Audit Reveals Overbilling of Insurance Companies by DOI

    Posted by MAIA on August 27, 2019

    Last week, MA State Auditor Suzanne M. Bump released an audit that calls on the Division of Insurance (DOI) to discontinue an unauthorized practice that has exempted more than 62 insurers from paying a required annual fee. As a result of this practice, the remaining insurance companies operating in the Commonwealth were overbilled by $857,306 between FY 2014 and FY 2018. In addition, the audit recommends that DOI should work with insurers that were overbilled to determine whether any restitution is necessary.


    Read the Mass.gov Summary: Audit of the Division of Insurance

    Read the full DOI Performance Audit: Audit Report–Division of Insurance

    Read the State Auditor’s Press Release: Audit Reveals Unauthorized Billing Practices at DOI


     

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    Topics: The Massachusetts Agent, Industry News

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