Title insurance company ordered to issue refunds to Hoosier customers

The Indiana Department of Insurance said Wednesday that Nebraska-based First American Title Insurance Co. must pay $3.7 million for overcharging Indiana customers between 2006 and 2008.

First American Title Insurance is a subsidiary of Santa Ana, California-based First American Financial Corp.

The Indiana Department of Insurance said Wednesday that it had originally ordered First American to reimburse consumers $3.1 million, plus an additional $38,142 for underpaying its Indiana taxes on the premiums it charged customers between 2006 and 2008.

The insurance company asked for a review of the department’s order. A trial court agreed with the original order and ordered First American to pay the Indiana Department of Insurance $3.7 million—an amount that includes interest on the overcharges.

First American is to pay the Indiana Department of Insurance, which will then issue refunds to affected customers.

First American did not immediately respond to a request seeking comment on Wednesday morning.

The Indiana Department of Insurance said it did not yet know how many customers were affected. It also said the First American has the right to appeal the decision.

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