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Farmers Insurance Exchange Class Action Settlement
By Matt O’Donnell
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Farmer’s Group, Inc. has reached a $455 million class action lawsuit settlement over allegedly charging its insurance Exchanges, which are owned by subscribers, illegally high fees. The Farmers class action settlement affects anyone who subscribed to an insurance policy issued by Farmers Insurance Exchange, Fire Insurance Exchange or Truck Insurance Exchange between 1999 and 2010.Â
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The Farmers Group class action settlement will resolve allegations that the management fees that Farmers Group received to manage certain operations of the Farmers insurance Exchanges were too high and that Farmers Group made too much in profits in violation of California law. The Exchanges are insurance companies that are owned by their subscribers. The management fees that the Exchanges pay Farmers Group come out of the premiums that subscribers pay for their insurance.
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Farmers Group denies any wrongdoing but has agreed to settle the class action lawsuit, entitled Fogel v. Farmers Group, Inc., by creating a $455 million settlement fund to pay out Class Members. Class Members of the Farmers Group settlement include anyone who, at any time between January 1, 1999 and December 31, 2010, had an insurance or reinsurance policy issued by Farmers Insurance Exchange, Fire Insurance Exchange or Truck Insurance Exchange.Â
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As a Class Member, you’re entitled to a certain percentage of the Farmers class action settlement. Your payment will depend on the amount of premiums you paid during the class period as well as the amount of premiums paid by all Class Members during that time period. To receive your share of the Farmers class action settlement, you must submit a valid claim form online at FogelSettlement.com or postmarked no later than December 6, 2011.
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Detailed information on how to submit a valid claim form and receive your share of the Farmers Group Insurance Exchange Class Action Lawsuit Settlement can be found in our Open Lawsuit Settlements section.
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Updated June 16th, 2011
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51 thoughts onFarmers Insurance Exchange Class Action Settlement
10/25/11: A year later and the court hearing was postponed from 9/6/11 to now 11/9/11. No money will be distributed until after the final court hearing (in case there are appeals). Farmers sucked us out of our money and now the courts (and appeals?) are withholding it from us! Where is the justice??!!
You have until 12/06/11 to claim any monies in the class action. Visit http://www.fogelsettlement.com to claim your money in the lawsuit.
I would like to know if the settlement has been closed and if there is a way to check and see if you received my claim form when I sent it as soon as I received it. I had a name change so it may of been alittle confusing. When can I expect my money?
Michele
I lost my paperwork they sent me to fill out for this…can someone please tell me how to join it and get that paperwork again, please!??!?!
Thanks,
Kim
Kirk, have you checked your states unclaimed property list at Attorney General office. A friend told us we had about $800. It was from Farmers and we were with them less time then you. Lisa, I am with you. How much? I don’t want to line a law firm’s pockets for a small amount. Also, why they unclaimed fund money? Is it connected?
So what is the expected amt a person should expect to receive from this? I’ve heard of class action lawsuits before, but never really acted on them, because I am more concerned with getting scammed over it, like trying to get your social security number, etc..and to me it’s not worth it. However, I am curious to know what kind of $$ we are talking about.
I have been with Farmers for 19 years. I recently added an additional vehicle to my policy. I was informed, my other policy would be going up. I take it this is how they intend to raise the money to pay off this settlement? Isn’t that like getting ripped off twice? Once again, the public pays for the crime of the corporation that committed it. Where is the punishment in that?Where are the original funds over charged to the policy holders? This settlement needs to be paid out of share holder profits!
Farmers Insurance Exchange Class Action Settlement
Would like to know whats next?
Farmers Insurance Exchange Class Action Settlement
Would like the dollars.
Farmers Insurance Exchange Class Action Settlement
I found through the internet that I have 2 unclaimed properties. One for $238.40 and the other for $8.62. If you have paperwork to coincide with this amount, I would like copies of each. Type of property: Premium Refund , Cash reported $238.40, Date reported to State Controller’s Unclaimed property program, Date reported 10/28/2010, Date of last contact 4/25/2007, Owners Name Jenia Rouser, Address unknown. Second unclaimed property: Farmers Insurance
unclaimed property premium refund, Cash amount $8.62, Date reported: 10/28/10, Date of last contact: 7/14/2006, Owners Name Jenia Rouser -Adams, reported owners address Unknown.
My address 1851 W. 160th St. Gardena, CA 90247