INSURANCE
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From Times Staff and Wire Reports
Insurer to Pay $200,000 Fine for Claims Delays: Philadelphia American Life Insurance Co., in a settlement of charges brought by the California Insurance Department, agreed to pay $200,000 and change its claims practices, the department announced Friday. Regulators last June had accused the company of 225 cases in which it had either failed to acknowledge receipt of a claim or settle a claim within 15 days of its having been filed, as required by law.
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