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Augusta, Maine -

Insurance Superintendent Mila Kofman said Friday that MEGA Life and Health Insurance Company will be providing refunds plus interest to many of the small businesses insured with the company in Maine. The total refund due to Mainers is $364,000 plus $39,500 in interest.

The refunds correct an error that was discovered by MEGA during a review of MEGA’s 2010 rate filing (Docket No. INS-09-1002) with the Bureau. The Company identified the system error and has cooperated fully with the Maine Bureau of Insurance to identify the customers affected, to determine the amount overcharged, and to develop a method for providing a refund that includes interest.

Checks including premium refund and interest will be mailed in April to approximately 1,300 small businesses in Maine. MEGA covers roughly 1,400 small businesses in the State. The refund and interest amounts range from $5 to more than $4,200, with the average of approximately $300.

Consumers who have questions should contact Maine’s Bureau of Insurance at 1-800-300-5000 or MEGA’s Customer Service Department at 1-800-527-5504.

The Bureau of Insurance is part of the Department of Professional and Financial Regulation which encourages sound ethical business practices through high quality, impartial and efficient regulation of insurers, financial institutions, creditors, investment providers, and numerous professions and occupations for the purpose of protecting the citizens of Maine. Consumers can reach the Bureau through its web site at www.maine.gov/insurance; by calling 800-300-5000 in state; or by writing to Bureau of Insurance, 34 State House Station, Augusta ME 04333.

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Last Updated: November 23, 2011 2:45 PM