Overcharge

State Farm Insurance was slapped on Monday with a far-reaching state order that calls on the state’s largest insurer to refund $310 million to its Texas home insurance customers for overcharges dating back to 2003. Texas Insurance Commissioner Mike Geeslin said that State Farm, which provides coverage to 1.2 million Texans, must pay up after…

Insurance Commissioner to Rule on State Farm Overcharge Amount Pick a dollar amount between zero and 1 billion. Depending on whom you ask, that’s what State Farm Insurance owes its Texas customers for overcharging on homeowner policies dating to 2003. The Office of Public Insurance Counsel, the state’s consumer advocate for insurance, says in documents…