Ohio Co. Admits Overbilling Blacks

[Judi Lynn]

Ohio Co. Admits Overbilling Blacks



The Associated Press
Jan 27, 2004 : 3:22 pm ET

FAIRFIELD, Ohio -- Cincinnati Life Insurance Co. agreed Monday to pay about $1 million to settle allegations that a company it bought charged blacks more for burial insurance.

Families sued Cincinnati Life in 2002, claiming Inter-Ocean Insurance Co. charged blacks an average of 16.5 percent more than whites between 1947 and 1968. Cincinnati Life acquired Inter-Ocean in 1973.

Under the settlement announced by state insurance officials, about 8,000 black customers or their descendants will collect at least $100 each to cover the amounts they were overcharged, plus interest.
(snip/...)

http://www.herald-sun.com/business/21-440283.html

[arwalden]

1. I'm Amazed That A Settlement Was Reached...

... all these years later, and even though the original company had been bought-out. This is good news!

-- Allen