Acting Pennsylvania Insurance Commissioner Michael Humphreys yesterday released a market conduct examination report of First Acceptance Insurance Company that resulted in a $105,000 penalty. The examination found that agents for the company were misleading consumers and adding on optional third-party coverages without the consumer’s knowledge or full understanding.
According to the market conduct report, two-thirds of the complaints the Department received about the company were auto claims related. The company had over $8 million in 2020 Direct Written Premiums in Pennsylvania, including $4,968,144 in private passenger auto liability and Private Passenger Auto Physical Damage premiums of $2,042,875.
“First Acceptance’s business