North Insurance Commissioner Mike Causey announced May 1 that he has fined two insurance companies, The Members Insurance Co. and Universal Insurance Co., $113,000 following a market conduct examination.
Members and Universal, which are licensed to write private passenger automobile and homeowners’ insurance policies in North Carolina, are owned by Auto Club Group.
At the request of the Department of Insurance, Members and Universal agreed to refund policyholders more than $2.6 million, including interest, and have submitted a corrective action plan to address violations found in the market conduct examination.
“I’m happy that we were able to get Members and
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