MONTPELIER – The Department of Financial Regulation announced today that Horace Mann Insurance Co. and Horace Mann Property and Casualty Insurance Co. has paid $8,993 in restitution to Vermont customers whose auto insurance claims were not evaluated properly.
An investigation by the department determined that Horace Mann had inaccurately calculated the value of total vehicle losses for seven claims between January and December 2011. In response, Horace Mann has agreed to implement new policies and procedures as well as training for all employees who handle Vermont total loss claims.
DFR Commissioner Susan L. Donegan was pleased with the corrective actions the Horace Mann companies have promised to take.
“I appreciate Horace Mann’s acknowledgement of erroneous practices and its efforts to ensure this doesn’t happen in the future,” Donegan said.
“Vermont consumers are the department’s number one priority,” she said, “and this is a perfect example of how insurance laws and regulations guarantee fair treatment for all policyholders.”