Zurich Insurance Co. uncovered in an in-house audit that it had overcharged for auto insurance in around 286,000 cases.

Policies written from Sep. 2003 to November 2006 were overpaid around 50 yen each. Okay, what's 50 yen…about 40 cents.

Multiply that by 286,000 and the company made about $115,0000 that it shouldn't have. The company plans to return the money with interest (Japan zero interest during the time). I don't know what the cost of a stamp is these days in Japan…and envelopes…and the time it takes to mail the payback.

Wouldn't it make more sense to just deduct it from the next premium due?

The company also discovered that in 390,000 cases policy olders had underpaid…from 10 yen to 24,000 yen. The company lost more than $30,000.

The mischarges were blamed on a programming error.

Somebody is in a lot of trouble….

What do you think?