290 military personnel to get insurance refunds.
By:
Updated: April 17, 2007
The settlement requires American-Amicable Life Insurance Company of Texas and its two affiliates, Pioneer American Insurance Company and Pioneer Security Life Insurance Company, to provide immediate cash refunds and increased policy benefits totaling $70 million to their approximately 92,000 policyholders.
This settlement is the result of a 20-month investigation led by the Texas and Georgia Insurance Departments, the U.S. Department of Justice and the U.S. Securities and Exchange Commission.
Policyholders with questions regarding the settlement can call the company at 1-800-736- 7311, or they can call the Department`s Consumer Services Division at 1-800-852-5494, or visit the Web site at www.insurance.arkansas.gov and select the "Insurance Issues for Military Personnel" page.
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