Karen Dorn Steele Staff writer
A Travis County, Texas district court has granted preliminary approval of a settlement with Farmers Insurance Group that will return $84.4 million to policyholders stemming from a 2002 homeowners insurance rate case. The case stems from a 2002 lawsuit by …...
“Capital is necessary so an insurance company can pay for any future claims for the risks it insures,” the statement reads. “Last year, one rating agency downgraded State Farm General’s financial strength rating due to its capital position. With further capital deterioration as a result of...
And on March 2, a jury ordered Farmers to pay nearly $4 million in compensatory damages to rebuild an earthquake-damaged condominium project in North Hills. Facing an even greater liability in the punitive phase, Farmers opted to settle for $20 million. “I don’t think this is a coinciden...