The Indiana Department of Insurance has found First American Title Insurance Company overcharged some Indiana residents from 2006-2008. The Nebraska-based company has been ordered to repay over $3 million for violating the state’s Gross Premium Tax Statute. Indiana Department of Insurance Commissioner Stephen Robertson says the company will also reimburse an extra $38,142 for underpaying taxes.
First American had filed a petition asking for a review of Commissioner Robertson’s order but the trial court agreed the company overcharged customers and underpaid taxes.
“The Indiana Department of Insurance continues to be diligent in pursuing insurance companies that try to take advantage of Hoosier consumers by breaking the law,” said Commissioner Robertson.
First American will repay a total of $3,657,797.45 that will be refunded to Hoosiers by the Indiana Department of Insurance.