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.
|Friday, August 12, 1994
Garamendi Calls Farmers Plan to Raise Quake
By: From Times Wire Services
The company had previously suspended the sale of new
It said the moves were intended to protect Farmers' financial strength and its ability to grow.
The company estimated that since 1973, it had
collected $449 million in earthquake premiums but paid
losses of $1.24 billion. It also said it had identified
nine fault lines within California that had loss
potentials ranging from $1 billion to $3 billion.
Copyright (c) 1994 Times Mirror Company
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