The "Farmers Insurance "News-Alert" website is dedicated to providing the consumer and general public with detailed information concerning the Farmers Insurance Group. This includes fraud reports, consumer complaints, lawsuit's and other legal actions taken against this company. All information contained herein is for educational purposes only. Original sources, when known are sited.
|Thursday, February 10, 1994
Farmers Pays $100,000 Fine to Settle Quake Coverage
By: THOMAS S. MULLIGAN
Farmers agreed to the settlement more than a month ago, Millen said, adding, "The timing of this release--following a major earthquake--I find somewhat curious."
Millen said all customers signed forms indicating either acceptance or rejection of earthquake coverage, but he acknowledged that the process violated the law because the paperwork was not complete.
The department directed Farmers to mail a special quake insurance offering to everyone who became a new homeowners policyholder between Jan. 1, 1992, and April 21, 1993.
The department also said it will conduct "a full
examination" of Farmers next month "to verify
ongoing compliance with the law." Farmers has about
13.5% of California's homeowners insurance market.
Copyright (c) 1994 Times Mirror Company
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