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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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All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
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51 thoughts onFarmers Insurance Exchange Class Action Settlement
Would any of you people sign up with Farmers Insurance Exchange if you were buying insurance now?
I would like to know when the settlements will be mailed or issued? I have a confimation on 2 different policies I submitted to the Fogel Settlement website.
Thanks.
In the recording & on the info sent to me, it has final info. date Dec 6, 2011.
They only had about half my insurance listed in their letter, so I spent hours gathering all the info & set it to FARMERS CLASS ACTION GROUP SETTLEMENT, P.O.BOX 2423, FAIRIBAUOLT,MN. 55021-9123 BY REGISTERED MAIL ON NOV 17 2011. i RECEIVED A LETTER 2 APR 2012, STATING I WAS TOO LATE & INFO. HAD TO BE IN BY 23 FEB 1011. WHAT KIND OF SCAM ARE THEY PULLING.
wHO CAN I CALL ABOUT THIS. ???
I would like to know the status as well. I submitted my information through the Fogel v Farmers Group, Inc, Settlement site and have a confirmation number. I do not see any information on that site to advise of when reimbursement will be distributed.
Never heard anything regarding the class action settlement for over charges. What,s the status? I completed the correct paperwork.
Kim,
Go to the web site:
http://topclassactions.com/lawsuit-settlements/lawsuit-news/1216-farmers-insurance-exchange-class-action-settlement-
to check your credit report free of charge and receive your $35.00.
never heard anything or got any money. what happened
I mailed the postcard and it came back also. The postcard has a place for a stamp which made it look like you just need to sign and mail it. I wonder how many other people did the same thing. So now it was not received by the company and it is past the deadline.
i sent this and it came back in the mail so now what?been with them 1980——
You should not ever post your address and personal informaiton on the internet….be wiser.