The Order was issued based on allegations that GEICO paid an alleged “prevailing rate” to Minnesota body shops that was less than the total charged by the body shops for certain repair costs and this practice resulted in certain insureds or claimants paying claim amounts that should have been paid by the insurer.
Wednesday, 25 November 2009 09:46
GEICO Fined $30,000 by Minnesota Department of Commerce
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Minnesota Commissioner of Commerce, Glenn Wilson, has issued a Consent Order to GEICO Insurance Company alleging that the company violated Minn. Stat. § 72A.201, subd. 6(2)(a) (2008). GEICO was ordered to pay a civil penalty of $30,000 and to cease and desist from any further violations of the Statute.
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