A group of 18 workers compensation insurers including Liberty Mutual, Hanover and State Auto Mutual have been ordered to repay almost $10 million in excess profits to policyholders. The companies have 60 days to make the refunds. These excess profits were from as far back as 2005. In other words, these insurance companies have been holding onto profits they were not entitled to for up to five years instead of being in the pocketbooks of their customers. Just another example of greed and putting profit ahead of fair and appropriate dealings with the people who end up getting the shaft on the other end.
Richard J. Arsenault, 2011
