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 […]
European Commission Fines 15 Car Manufacturers $496 Million for End-of-Life Vehicle Recycling Cartel
UK also issues more than $100 million in fines as vehicle manufacturers and their associations admitted engaging in anticompetitive behavior on end-of-life vehicle recycling. The European Commission has imposed fines totaling approximately €458 million ($496 million) on 15 major car manufacturers and the European Automobiles Manufacturers’ Association (ACEA) for participating in a cartel related to […]
NHTSA Fines Ford $165 Million for Failing to Comply with Recall Requirements
In addition to the second largest civil penalty in the agency’s history, regulator announces consent order with Ford Motor Company. The National Highway Traffic Safety Administration (NHTSA) announced a consent order with Ford Motor Company for failing to comply with federal recall requirements. The consent order includes a civil penalty of $165 million, the second-largest […]
Montana Announces $5 Million in Additional Payments to Consumers Following State Farm Review of Auto Loss of Use and Third-Party Liability Claims
Troy Downing, the Montana Commissioner of Securities and Insurance (CSI) reported that State Farm Mutual Automobile Insurance Co. has reviewed an additional 18,000 claims after being fined $4 million in a CSI administrative action for unfair claims settlement practices. These reviews resulted in an additional $5.2 million paid to Montanans impacted by State Farm’s improper […]
EPA Fines Safety-Kleen for Hazardous Waste Violations in Iowa, Kansas, and Nebraska
Safety-Kleen Systems Inc. will pay a $95,781 civil penalty to resolve alleged violations of the federal Resource Conservation and Recovery Act, which is the federal law that requires safe handling of hazardous wastes. “Mismanagement of hazardous waste threatens human health and the environment,” said David Cozad, director of EPA Region 7’s Enforcement and Compliance Assurance […]
New York Department of Financial Services Fines Allstate, State Farm, AIG, and Tri-State Insurance Companies $2.1 Million
Allstate and State Farm also pay $10.6 million in restitution to consumers. New York State Superintendent of Financial Services Linda A. Lacewell announced that the Department of Financial Services (DFS) has fined Allstate Insurance Group, State Farm Insurance Group, AIG Property Casualty Company, and Tri-State Consumer Insurance Company a combined $2.1 million for violations of […]