Assurant Group companies have agreed to return about $6.5 million for charging what Maryland's insurance commissioner calls excessive rates for credit insurance.
Almost 320,000 Maryland residents and a number of small firms are to receive refunds for credit insurance premiums paid, according to the insurance department.
Assurant Group companies involved are the American Bankers Insurance Company of Florida, American Security Insurance Co., American Reliable Insurance Co., and Standard Guaranty Insurance Co., the department said.
