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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.

 

Saturday, March 11, 1995
Home Edition
Section: Business
Page: D-2
BRIEFLY;

INSURANCE;

By: Times Staff and Wire Reports


Farmers Downgraded Over Earthquake Vulnerability: Standard & Poor's Ratings Group reduced its rating of the Farmers Insurance Exchanges' claims-paying ability, from "AA" to "A-plus," noting the impact of the
Northridge earthquake. Farmers said the ratings agency's action affirmed the insurer's "urgent need to reduce its unacceptable level of earthquake and serious catastrophic exposure in California and elsewhere." Farmers, which has applied for a sharp increase in its earthquake insurance rates, also called for "swift action" by regulators on proposed rate applications and by Congress on a national disaster insurance program.

 

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