Advertisement
Share

Massachusetts regulators are seeking a $1-million fine...

Massachusetts regulators are seeking a $1-million fine against Balboa Insurance Co., based in Irvine, “for consistently engaging in unfair and deceptive business practices” in their state relating to the sale of four nationally marketed insurance programs. Balboa is charged with delaying payment of legitimate claims to motorists protected against mechanical breakdowns; illegally canceling insurance covering liability for specialty risks, including roller rinks and amusement parks, and disrupting the state’s taxi business by abruptly terminating coverage for the 45% of the taxi market that it insured. A hearing was set for Jan. 23.


Advertisement