Source: gulfbreezenews.com

Over $5 million in commercial insurance refunds would be soon returned to Florida businesses. Florida Insurance Commissioner Kevin McCarty today ordered $5.3 million in premium over cost to be returned to commercial policyholders in the state. The overcharges were found in a market conduct examination conducted by the Office of Insurance Regulation.

Universal Underwriters Insurance Company (Universal) should refund premium overcharges in surplus of its filed rates on 526 Unicover policies issued from January 1, 2002 through September 30, 2005.