L.A. Insurance has ceased selling seven-day auto insurance plans in Michigan under a settlement agreement its carrier reached with state regulators earlier this year to eliminate the controversial no-fault insurance product.
The Royal Oak-based insurance agency and its carrier, Integon National Insurance Co., came under scrutiny last year from the state Department of Insurance and Financial Services for selling seven-day plans......Integon is a subsidiary of Winston-Salem, N.C.-based National General Insurance Group.
...L.A. Insurance advertised the seven-day auto insurance plans for as little as $199, but the polices often cost more.
...L.A. Insurance CEO Anthony Yousif ..."It's going to really hurt the business. All the stores in Detroit are probably going to end up closing," Yousif told Crain's in a March 2017 interview."...
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