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: Legal Pad | LADA makes $1.1 settlement with three of the nation's biggest insurance firms
By Jason Siegel
A $1.1 million settlement with three of the nation's largest insurance firms accused of paying an insurance broker hundreds of thousands of dollars to send people their way, the San Diego Union-Tribune reported.
?These large insurance companies were lining the pockets of a San Diego insurance broker [at Universal Life Resources] in exchange for sending business their way,? said San Diego District Attorney Bonnie Dumanis said in a press release. ?The kickbacks and hidden fees were secretly being passed along to the consumer, who was the loser in this scheme.?
MetLife, Prudential and Unum didn't admit liability in the case, prosecuted jointly by district attorneys in San Diego, Los Angeles and Alameda. MetLife will pay $500,000. Prudential will pay $350,000. Unum will pay $250,000.
Full post as published by Legal Pad | LA on April 30, 2008 (boomark / email).
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