State auto insurer defends spending, bonuses
Officials with the Maryland Automobile Insurance Fund defended their spending and staff bonuses to legislators on the joint audit committee Monday.
In a December report, state auditors were highly critical of $1.4 million in bonuses paid out to management and staff at the quasi-public agency for motorists who can’t get coverage anywhere else in 2008. That year, the insurer lost $20 million.
The audit also criticized MAIF spending $250,000 on consultants, marketing and lobbying, as well as on a $15,000 “appreciation” dinner for agents who refer clients.Read More