State Farm ordered to issue refunds - Orlando Business Journal:

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In addition, the insurance company must paya $1 millio n penalty to the . By law, insurance companiew must tell their policyholders at the time a policyg is issued or renewed about the discountes available for enhancing the wind resistance oftheid homes. "I am very pleaserd that State Farm policyholders will now be gettint the appropriate monetary credit for the importantt wind mitigation devices they put ontheird homes," said Florida Insurance Commissioner Kevih McCarty. "Taking steps to fortify our homez against wind damage isvery important. Everythingv Florida consumers can do to reducew storm damage helps to keep property insurancecoste down.
" The order follows a July notice to Statd Farm of an investigatiobn into whether the companhy was properly implementing the mitigation discount As the result of an internal review, State Farm identified about 98,000 current or formed policyholders to whom it will provids credits or refunds. Those entitled to the refundsa will receive a notice fromthe company. The refund must includer 7 percent interest on the amount due to each policyholdefruntil paid.