Skip to content

Carrier Management

Critical Information for P/C Carrier Executives

Highlights

  • Liberty Mutual Building
  • Fixing Claims Negotiation
  • Ultra-Processed Foods: An Emerging Risk
  • Carrier Management
  • C-Suite
  • News
  • Research
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Join
  • Login
  • Boardroom Agenda
  • CEO / Chief Executive
  • CFO / Financial
  • Underwriting
  • CTO / Technology
  • Risk
  • Brand Management & Sales
  • Investment Officers
  • Claims / Legal
  • Talent Management
Nine Claims Trends to Watch Through the Rest of 2026
The List Is Growing: More Insurance Apps on ChatGPT
  • U.S.
  • International
  • Industry News
  • Government
  • Technology & Science
WTW: U.S. Commercial Insurance Rates Moderate to 2.9% in Q4 2025
How to Make Performance Evaluations More Accurate

See all News

  • Executive Spotlight
  • Innovation
  • Strategy
  • Leadership
  • Performance
  • Growth Initiatives
  • Social Responsibility
How Modern Is ‘Modern Enough’ for Insurance Applications?
Why Claims AI Build vs. Buy Decisions So Often Miss the Mark
  • Reinsurance
  • Emerging Markets
  • Global Economy
  • Personal Lines
  • Commercial Lines
  • Specialty
P/C Statutory Results: The Highs and The Lows
State Farm’s California Homeowners Rate Request: It’s Settled — Almost
  • Insurance Regulation
  • Securities Regulation
  • Accounting & Tax
  • Rating Agencies
RLI Now Has ‘A++’ Rating from AM Best
Disaster Preparedness, Responsible Tech Use Among NAIC 2026 Priorities
Reinsurance Program Could Wipe Out Need for Calif. FAIR Plan: Legal Exec
First Atlantic Hurricane Forecast for 2026 Suggests Season Close to 30-Year Norm
AI Claim Assistant Now Taking Auto Damage Claims Calls at Travelers
10,000 Travelers Employees Get AI Assistants via Anthropic Partnership

See all Top 50

How Artificial Intelligence Is Changing Cyber Risk in 2026
Cyber Insurance Faces a Turning Point in 2026 as Soft Market Pressures Grow
The Decision-Native Insurer
As SCS Losses Grow, Demex Offers Modeled-Loss Reinsurance

See all Members Only Content

Benefits

  • News for the P/C Insurance C-Suite - Focused reporting from reliable sources and experienced financial journalists.
  • Research and Analysis Not Found Elsewhere - Exclusive content from researchers think tanks, industry experts and respected analysts.
  • High-Profile Peers - Interviews with thought leaders in the global and U.S. insurance industry.

Online Access

Complete, unrestricted access to the popular CarrierManagement.com website, which provides insurance company C-suite executives with daily news, white papers, advice, instruction and editorial on how to manage insurance companies more efficiently and more effectively.

Wells Fargo, National General Face CA Regulatory Scrutiny in Auto Insurance Scandal

Print Email
August 8, 2017 by Suzanne Barlyn

California will investigate whether Wells Fargo & Co and an insurance company harmed hundreds of thousands of residents by selling them insurance they did not need, the state’s insurance regulator said on Tuesday.

California Insurance Commissioner Dave Jones said in a statement his department will look into so-called “force-placed” or “lender-placed” auto insurance underwritten by National General Insurance Co for customers with auto loans from Wells Fargo.

Wells Fargo declined to comment on the probe, while a National General representative could not be immediately reached for comment.

Unwanted auto insurance is the latest chapter in a months-long scandal over sales practices at Wells, where employees also created as many as 2.1 million deposit and credit card accounts in customers’ names without their permission.

The probe by California follows subpoenas issued by New York state’s banking and insurance regulator to two Wells Fargo units on Aug. 2.

The New York Department of Financial Services (NYDFS) is demanding Wells turn over loan contracts with New York borrowers, its financing agreements with auto dealers, and agreements between Wells units and insurers, among other details, according to copies of the subpoenas seen by Reuters.

Wells first became aware of potential problems a year ago, when the auto lending business began receiving an unusually high number of complaints, Franklin Codel, head of consumer lending, said in a recent interview.

The bank said it would refund about $80 million to an estimated 570,000 customers who were wrongly charged for auto insurance from 2012 to 2017, including roughly 20,000 whose vehicles were repossessed.

“Wells Fargo discontinued its Collateral Protection Insurance (CPI) program in September 2016 after finding inadequacies in vendor processes and our internal controls that negatively impacted some customers,” the company said in a statement.

National General was identified as an underwriter of the insurance in a report into the matter prepared for Wells by consultancy Oliver Wyman. The New York Times obtained a copy of the report.

Copyright 2026 Reuters. Click for restrictions.
Print Email
Claims / LegalCommercial LinesGlobal EconomyIndustry NewsInternationalLitigation/Liability TrendsMarketsNewsRiskThe C-SuiteU.S.Underwriting

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

How State Farm, USAA Boost Customer Retention: Historic Dividends
Liberty Mutual ‘Shifting from Fixing to Building’ in 2026, CEO Says
How Modern Is ‘Modern Enough’ for Insurance Applications?
The List Is Growing: More Insurance Apps on ChatGPT

Related Articles

Wells Fargo Will Fork Over $108M to Settle Lawsuit Over Veterans’ Loans
U.S. Regulator Faults Wells Fargo Over Auto Insurance Abuses: NYT Report
Another Wells Fargo Snafu: It May Have Harmed Customers by Closing Real Accounts
Wells Fargo Will Refund $80M to Customers Wrongly Charged for Car Loan Insurance
Another Wells Fargo Lawsuit, This Time Over Merchant Credit Card Fees
Wells Fargo Customers Sue Bank, Alleging Insurance Scheme Was a Scam
Wells Fargo Accused of Charging Improper Mortgage Fees in Proposed Class Action Lawsuit
New Wells Fargo Disclosures May Jeopardize $142M Customer Class Action Settlement
Wells Fargo Plan to Repay Customers Pushed Into Unnecessary Auto Insurance Reportedly Rejected by Regulators
Wells Fargo Admits Discovery of 1.4M Additional Bogus Customer Accounts
New York Regulators Seek Info From National General, Others in Wells Fargo Scandals

Our Contributors

Gary McGeddyLessons From 25 Years Leading Accident & Health at Crum & Forster
Chad LangfordWhy Claims AI Build vs. Buy Decisions So Often Miss the Mark
Leslie SapienzaReal Customer Connections: What Valentine’s Day Teaches Insurers
Kate DombrowskiFrom Skill to System: The Next Chapter in Insurance Claims Negotiation
Laura BoettcherGender Balance as a Business Strategy
Daniel HofmeisterViewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers
See All Our Contributors

Free Newsletter

NewsletterSign up to receive daily news!

Latest Magazine

Carrier Management magazine
View All

Research & Whitepapers

  • C-Suite
  • News
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Videos

Headlines

  • Liberty Mutual Building
  • Fixing Claims Negotiation
  • Ultra-Processed Foods: An Emerging Risk
  • 20,000 AI Users at Travelers

Resources

  • Videos / Podcasts
  • Contributors

Popular Topics

  • Boardroom Agenda
  • Technology
  • Financial
  • News

Brand Spotlight

  • Cotality
  • Cytora
  • HazardHub
  • Indico Data
  • Majesco
  • Verisk
  • Vertafore

Connect with us

  • Email Newsletters
  • Twitter
  • Facebook
  • LinkedIn
  • Do Not Sell My Info

Carrier Management

  • Submit Content
  • Advertise
  • Subscribe
  • Contact Us

Wells Media Group Network

  • Carrier Management iconCarrier Management
  • Insurance Journal iconInsurance Journal
  • Claims Journal iconClaims Journal
  • IJ Academy iconInsurance Journal Academy
  • Insurance Journal TV iconInsurance Journal TV
  • MyNewMarkets.com iconMyNewMarkets.com
© 2026 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map