Business Briefs

Insurers issue $1M in refunds after overcharges

Posted June 28, 2011 12:15 p.m. EDT

— Two insurance companies have together issued more than $1 million in refunds to policyholders after overcharging them on auto, home and business fire insurance policies, state Insurance Commissioner Wayne Goodwin announced Tuesday.

SAFECO Insurance Co. of America and American States Preferred Insurance Co. issued refunds to more than 11,200 policyholders after the Department of Insurance found they had incorrectly calculated surcharges for several years.