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The Boston Globe

Business

Insurer’s accord with state raised to $5.25 million

A company alleged to have used deceptive practices to sell supplemental health insurance to veterans and other Massachusetts residents will pay more than $5 million to settle, Attorney General Martha Coakley said Tuesday.

The settlement, now totaling $5.25 million, represents an increase of $1.5 million over an earlier agreement reached between Coakley’s office and Life Insurance Company of North America, in July 2012. The increase in restitution to consumers and penalties is a result of the insurer’s failure to meet the conditions of the original settlement, Coakley said.

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