Insurance Journal Midwest readers in 2023 gravitated to stories on multi-million dollar rulings, policy language disputes and failing mutual insurance companies. Readers were also interested in the fallout of the East Palestine, Ohio train derailment and large court settlements.
Top Midwest Insurance Journal Stories of 2023
An October consent order filed with the Minnesota Department of Commerce accused Liberty Mutual of violating several state insurance regulation laws. Liberty Mutual in turn agreed to repay $7.7 million to more than 86,000 Minnesota policyholders. The consent order alleged Liberty Mutual failed to offer the minimum antitheft protection device discount on auto insurance. The insurer also allegedly used an applicant’s status as a residential tenant in offering or establishing multi-policy discounts and applied an automated auto rate increase in violation of state law. Liberty Mutual was given approximately one year from the date of the consent order to refund, credit, or reduce the premium of all impacted policyholders in accordance with the remediation plan approved by the Minnesota Commerce Commissioner.