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Atlantic Automobile Association, Poinsett Insurance Agency, and Budget Premium Finance Company

Raleigh, NC: (Mar-30-07) Federal insurance regulators claimed three South Carolina companies, Atlantic Automobile Association, Poinsett Insurance Agency, and Budget Premium Finance Company, charged consumers without their knowledge. The companies were accused of selling Atlantic Automobile Association motor club memberships with auto insurance policies in North Carolina without telling customers about them. The allegations also noted that memberships were billed at higher rates than stated by Atlantic. The companies, owned by Leon Hix, have agreed to pay a joint penalty of $375,000. That is the largest penalty ever assessed in the Agent Services Division. [WIS TV NEWS: MOTOR CLUB FRAUD]


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Published on Apr-3-07


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