Hartford Financial Services Group Inc. must refund 1,276 customers in Delaware more than $151,000 due to the mishandling of the company’s rate filing for its senior-citizen auto insurance program, according to Delaware’s insurance regulator.
The dispute between the Delaware Department of Insurance and The Hartford arose over the 2008 rate filings by a pair of its property-casualty divisions, the department said today.
Former Delaware Insurance Commissioner Matt Denn disapproved the company’s rate filings after they became effective.
Despite the disapproval, policyholders participating in the program co-sponsored with the American Association for Retired Persons (AARP) continued receiving rate increase notices from The Hartford, the insurance commission said.
As part of the settlement the insurer will re-rate all in-force policies to the rates in effect before The Hartford’s 2008 filings.
Affected policyholders will either receive refunds or credits on their 2008 premiums paid, the insurance regulator said.
