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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.

 

Monday, February 6, 1995
Home Edition
Section: Business
Page: D-2
SOUTHLAND PREVIEW / The Business Week Ahead;

Southland;

By: Times Staff and Wire Reports


Earthquake Insurance Rate Hearing: A state Insurance Department administrative law judge will open hearings this morning on a controversial earthquake insurance rate increase sought by Farmers
Insurance Group, California's third-largest homeowners insurer. Farmers seeks to raise its rates on quake insurance by a statewide average of 174% and to impose a minimum deductible of 15% plus a co-payment of 20% on damage that exceeds the deductible. Farmers' application is being challenged by the Economic Empowerment Foundation, an Oakland-based community organization that argues that Farmers' rate request is not adequately justified in its filing and that policies with such high deductibles and high co-payments "render its earthquake insurance meaningless" to many consumers.

 

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