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Liberty Mutual to refund $4 million to 138,000 overcharged Louisiana policyholders.
Louisiana's Insurance Commissioner announced that Liberty Mutual will refund approximately $4 million to about 138,000 policyholders after overcharging them for an insurance assessment.
The error occurred because Liberty Mutual failed to update the Louisiana Citizens Property Insurance Corporation Emergency Assessment percentage since 2021.
The company will send refunds to affected policyholders and has adjusted the assessment charge to 0% as of April 1.
The Louisiana Department of Insurance is monitoring the repayments and reviewing the situation for potential regulatory actions.
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Liberty Mutual reembolsará entre 4 millones y 138.000 sobrecargos a los asegurados de Louisiana.