AUSTIN, Texas (AP) — Farmers Insurance coverage Group will pay $84.4 million to settle a 2002 lawsuit that stated Texas policyholders unknowingly paid greater premiums for much less protection. I will personally sit down with you to go over your present coverage, identify any gaps that you’ll have, and give you recommendation on how to make your insurance more secure. 4, 2009, Bonzer obtained his insurance coverage license and was hired the subsequent day by Farmers Insurance coverage Group (FIG) as a reserve agent at a FIG branch in Brea.
It should not be about finding the most cost effective coverage that covers the naked minimum It is best to have someone that understands what you need and how to help you get it. That is what I’m right here for, to make insurance easy for you. At Farmers we’re right here to be sure that we take care of our clients and having this protection is without doubt one of the ways we do that. Rancho Santa Margarita, CA- A former insurance coverage agent was convicted and sentenced right now to seven years in state prison for receiving over $900,000 in fee and premium payments from fraudulent insurance coverage policies.
In September 2011, CDI acquired data that a citizen’s identify appeared on a FIG Memorandum of Fire Insurance for a property this citizen was never related to. Bonzer approached the Agent and represented to the Agent that he had a very good relationship with CBG and Company, which processes mortgages. None of the individuals within the 791 insurance insurance policies owned the properties Bonzer listed, making them fraudulent. The Agent acquired full commission in the amount of $573,242 which was split with Bonzer on these properties despite the fact that no premium was paid to FIG for these fraudulent insurance policies.
The lack of protection with a licensed insurance firm places these companies in a position of lifetime exposure to potential monetary loss. U.S. insurer (Farmers Insurance coverage) class motion lawsuit against 200 Illinois towns may signal wave of climate-change suits. A significant insurance coverage company is accusing dozens of localities in Illinois of failing to prepare for extreme rains and flooding in lawsuits which are the first in what could be a wave of litigation over who must be chargeable for the doable prices of climate change.
Farmers Insurance filed 9 class actions final month in opposition to nearly 200 communities in the Chicago area. “It is a long shot for the insurance companies, but it surely’s not completely implausible, and when you have enough instances like this going ahead it might build some helpful precedent,” mentioned Robert Verchick, who served on the Obama administration’s Climate Change Adaptation Process Force. It is my job to make sure your money goes to insurance coverage that you simply be ok with.