Alberta’s superintendent of insurance issued more than $1.5 million in fines against 16 auto insurance companies for overcharging motorists for coverage, but what hasn’t been revealed is how much extra money drivers had to pay.
The Insurance Bureau of Canada and several of the penalized companies say the money has already been refunded to drivers.
The TD Bank Group, which includes Primmum Insurance, Security National Insurance Company and TD Home and Auto Insurance, received $885,000 in fines, the highest amount among all of the companies that were penalized.
The TD Bank Group issued a statement to CBC News saying the overcharges were the result of a system error that affected some customers’ policies. The company says the error was disclosed to the superintendent of insurance and “all impacted current and past customers” were reimbursed with interest.
“We regret the inconvenience this may have caused some of our customers and have