Connect with us

Eugene

The Oregon Division of Financial Regulation has issued a $200,000 fine against State Farm after the company failed to send notices over the past six years informing its insureds of their ability to request an annual credit check, which could affect their premiums

Published

on

Eugene, OR – According to the state officials, half of the total fine will be suspended and waived after three years if State Farm complies with all terms of the final order.

This case serves as an important reminder that Oregon law allows consumers to request an annual rerate from their insurer, which could lead to lower premiums, but will not increase them.

State Farm self-reported the violations to DFR in July 2023, informing the division that notices were not sent out due to a system error.

Because of that error, the notification required by ORS 746.650(5) and OAR 836-080-0438 were not sent to customers purchasing new automobile insurance policies between Dec. 5, 2017, and Feb. 23, 2023.

Specifically, State Farm did not notify the affected consumers at the inception of their coverage that they may have received a lower rate if their credit history or the credit factors used in their credit-based insurance score were more favorable, and that they had the right to request a rerate of the policy no more than once annually.

State Farm notified the division that the issue was corrected on Feb. 23, 2023, for any customers purchasing new policies after that date.

You may also like…

Eugene1 day ago

Oregon Sen. Merkley warns of “major danger for our Republic” as he accuses President Trump of seeking to block states from certifying election results after DOJ targets Alaska Senate race

Oregon – Sen. Jeff Merkley is warning that President Donald Trump could seek to prevent states from certifying election results...

Eugene1 day ago

Oregon Republican gubernatorial candidate Drazan takes aim at Gov. Kotek over $96,000 ODOT hiring contract, tells her to leave the hiring to her in January

Oregon – Oregon Republican gubernatorial candidate Christine Drazan is criticizing Gov. Tina Kotek over the state’s decision to spend $96,000...

Eugene1 day ago

Eugene firefighters battle four-hour blaze that engulfed large rural home as difficult access and lack of fire hydrants complicate response

Eugene, OR – Eugene Springfield Fire crews spent approximately four hours battling a fire that engulfed a large, two-story home...

Eugene1 day ago

Eugene Springfield Fire responds to hazardous materials incident after chemical reaction overheats industrial equipment and releases gases

Eugene, OR – Eugene Springfield Fire crews responded to a hazardous materials incident at an industrial facility in West Eugene...

Eugene1 day ago

Eugene police invite families to free Halloween ‘Candy with a Cop’ event featuring trick-or-treating, police vehicles and first responders

Eugene, OR – The Eugene Police Department is inviting families to a free Halloween event on Sunday, Oct. 25, where...

Eugene1 day ago

 33-year-old man arrested after ramming vehicles, punching officer in the face and slashing another with a knife

Eugene, OR – Eugene police arrested a 33-year-old man early Friday after he allegedly rammed parked vehicles, punched an officer...

Eugene3 days ago

Oregon Sen. Wyden warns over Trump administration plan for migrant children, says HHS lawyers could represent kids facing deportation while working for the same government seeking to remove them

Oregon – Oregon Sen. Wyden urges Trump administration to reverse plan for HHS attorneys to represent unaccompanied migrant children, warning...

Eugene3 days ago

Gov. Kotek warns Oregonians their ballots could be delayed this November as she urges them to make sure their signatures are correct before mailing them

Oregon – Oregon Gov. Tina Kotek is urging voters to make sure their mail-in ballots are signed clearly before returning...

Eugene3 days ago

Large rural home destroyed in overnight fire near Eugene as firefighters battle flames for four hours

Eugene, OR – A large, two-story home was fully engulfed in flames when firefighters arrived at a rural property in...

Eugene3 days ago

Eugene police investigate theft of elderly woman’s dog after group returns to take border collie while she was sleeping

Eugene, OR – The Eugene Police Department is investigating the theft of a companion animal after a 73-year-old woman reported...

Eugene3 days ago

Eugene man arrested on kidnapping warrant after refusing to stop for police and driving toward Walmart entrance during pursuit

Eugene, OR – The Eugene Police Department arrested a man wanted on a felony kidnapping warrant after he allegedly refused...

Trending