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, November 21, 1997
Valley Condo Owners Protest Over Insurer's Quake Repairs;
Recovery: Thirty from Park Northridge complex demonstrate, say Farmers
shortchanged the group by $5 million.;
By: BARRY STAVRO
TIMES STAFF WRITER
A group of 30 San Fernando Valley protesters paraded in front of Farmers Insurance headquarters in downtown Los Angeles Thursday claiming the company shortchanged them $5 million in paying for Northridge earthquake repairs.
Owners of the 195-unit Park Northridge condo complex sued Farmers for bad faith and breach of contract, and face $4 million in debts to the city, the Small Business Administration and their contractor to help finish repairs on condominiums.
The group says Farmers
refused to honor a guaranteed-replacement quake policy, and that Farmers cut corners by
using two sets of deductibles. They further allege the company refused to pay for some
caissons to help buttress foundations and wouldn't pay the full cost for upgrades that
condo owners made over 20 years, ranging from marble fireplaces to landscaping.
"Farmers is claiming construction costs were exorbitant," said Scott Seaton, the
condo group's president, although the group relied on engineers that Farmers approved.
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