State Farm has overcharged its customers roughly $78 million since at least July 2015, and should be required to refund that money, Consumer Watchdog told the California Department of Insurance last week.
The group wants State Farm to cut its rates by at least 9.26 percent.
State Farm is currently seeking a $94 million increase over its current rates.
California Insurance Commissioner Dave Jones has set July 15, 2015 as the effective date for calculating the refund.
Was this article valuable?
Here are more articles you may enjoy.
State Insurance Legislators ‘Greatly Disturbed’ by Trump AI Regulation Order
Apollo Sees Echoes of Collapse of SVB in US Insurance’s Shift to Caymans
Florida Jury Returns $779M Verdict for Family of Security Guard Killed at Gambling Cafe
Fifth La Ni帽a in Six Years to Disrupt Crops and Supply Chains 

