DCBS Media ReleaseJuly 31, 2000 State fines Country Mutual Insurance Co. $20,000(Salem) – The Department of Consumer and Business Services (DCBS) has fined Country Mutual Insurance Co. $20,000 for violating the Oregon Insurance Code. An investigation by the DCBS Insurance Division found that Country Mutual used an incorrect fire protection class code to calculate premium rates for 15 homeowner policies it sold in the Powell Butte area of Central Oregon. As a result, the homeowners paid about one-half of what they should have paid if the proper protection class had been used. Oregon law prohibits insurers from issuing policies that differ from the premium rates or policy forms they filed with the Insurance Division. Country Mutual's main administrative office is in Bloomington, Illinois. |
