Hybrid Under Investigation by State Insurance Department For Four Complaints, City of Hartford and Three Others.
Hybrid Insurance Group, subject of a frantic search for a missing $670,000 in Hartford insurance premiums, is under investigation by the state’s insurance department for four alleged violations involving premiums.
According to information provided by the insurance department:
July 11, 2013– Complaint filed by ARC Excess & Surplus lines regarding an outstanding balance of $250,000 owed to the company. The balance was eventually paid by CID examiners determined that Hybrid’s response was not sufficient. Complaint was referred to CID for further investigation.
September 19, 2013– Complaint filed by Hartford Public Schools alleging premium payment of $670,000 was not made to two excess liability insurers-National Casualty Company and Starr Indemnity & Liability Company. complaint referred to CID fraud unit for further investigation.
September 25, 2013– Complaint filed by KK Insurance Agency, Long Branch, NJ alleging breach of contract over 5 premium payments totaling approximately $21,000. Complaint referred to CID fraud unit for further investigation.
October 1, 2013– Complaint field by Distinct Advantage Premium Finance, Inc. alleging failure to return $2,859.57 n unearned premium. Complaint referred to CID fraud unit for further investigation.