NEW YORK–(BUSINESS WIRE)–ACE Insurance Litigation Watch, the online repository for lawsuits and complaints against the ACE Group (NYSE: ACE) insurance companies, today highlighted two recent disciplinary actions taken against the ACE Ltd. subsidiaries by the Texas Commissioner of Workers Compensation. These disciplinary actions, which require the ACE Ltd. subsidiaries to pay $116,000 in administrative penalties, relate to at least 24 different labor code violations by Indemnity Insurance Company of North America and ACE American Insurance Company, both of which are subsidiaries of the Swiss insurance conglomerate ACE Ltd.
Indemnity Insurance Co. will pay a $68,000 penalty for violations that include numerous instances of improperly denied and delayed payments for medical care and legal fees owed to covered employees. In some documented examples, the ACE Ltd. subsidiary improperly delayed payments as long as six months to three years. ACE American Insurance Company will similarly pay $48,000 for improper workers compensation claims practices.
ACE Group companies have received four penalties from the Texas workers compensation insurance division in the last seven months. ACE American, Indemnity, and Pacific Employers Insurance Co. have collectively been assessed over $325,000 since September 16, 2010. The latest consent orders were entered on January 28, 2011.
The ACE Group’s North American subsidiaries are overseen by ACE Group executive Brian E. Dowd. ACE Ltd. (NYSE:ACE), which was recently added to the S&P 500 index, is the ultimate parent of companies in the ACE Insurance Group.
ACE Insurance Litigation Watch is a consumer resource. The online litigation index is currently tracking more than 189 cases in Federal courts alone, many of which include complaints of delayed, denied, and diminished payments analogous to the conduct recently questioned by the Texas insurance regulators.
Visit www.ACEinsurancewatch.com for more information. ACE Insurance Litigation Watch is not associated with ACE Ltd., or its affiliates, in any way.