State Farm Ordered to End Care Coverage
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State Farm Insurance Cos. has been ordered to stop marketing and selling long-term care policies in California, in what the state Department of Insurance said is a violation of state law that could bring a $500,000 fine.
State Farm Mutual Automobile Insurance Co. continued selling the policies after Oct. 1, 2001, when a new law barred such policies unless they provided enhanced benefits, the department said.
The department’s order demands the firm refund premiums to anyone sold a policy after the deadline that has since been canceled or lapsed, and that continuing policies sold after the deadline be replaced with policies containing the enhanced benefits at no additional cost.
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