Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
Farmers Insurance Exchange Class Action Settlement
By Matt O’Donnell
Â
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
Â
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.
Â
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
Â
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.
Â
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.
Â
Â
Updated June 16th, 2011
Â
All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions
Top Class Actions Legal Statement
51 thoughts onFarmers Insurance Exchange Class Action Settlement
Well, what happened? Where is the Money.
What A SCAM – I sent my claim form in and on TIME and low and behold they never received it – LIARS…..I no longer have FARMERS – Go GEICO
SORRY TO HEAR NO ONE HAS RECIVED THE CLAIMS ONLY REASON I RECIVED MINE WAS BECAUSE I WAS FILING A COMPLANT ON FARMER FOR THE SAME REASON FOGAL FILED HIS COMPLANT WAS BEING OVER CHARGED ON INSURANCE, SAW THat CLASS ACTION WAS FILED BEFORE I DID IT, SO I FILLED OUT ON LINE FORM RECIVED MY 2 CHECK 2 YRS LATER,
Wow….I received a check for a whopping 38 cents!!!! It cost more to send then the check!!
how do we know you received our claim forms and how many claims were filed pluss those of us that haved moved when and how do we get OUR money and should i die first who will get my money dont say my ex wife she aready gets more then me because whos name was first even thor i made the payments
is been a yearrrrrrrrrrrrrrrrrrrr whole year since i sent that claim form they had sent me saying that i was gonna get back $150.88 was in june 13.11 now is sep 13.2012……………LIARS!! and i go to the website same thing no update nothinggggg ..thank god i DROPPED FARMERS! i hate people that lie..at least keep us informed they got our addresses they sent us claims forms..what next???????????????
In the pamphlet I received;they quoted an estimated figure of &76.91. Info is on the claim form. The formula is (A/B x $455,000,000 = Class Member Settlement payment)
A= total premium amt pd by Class Mem on exchange policy
B= total premium pd by all Class Membrs on All subject
Exchange policies. Hope this makes sense to some of you. ‘ Good luck to all
When will I get my payment?
ANSWER:
The Court granted final approval on December 21, 2011. However, appeals are pending, and the parties therefore cannot predict whether and when the settlement approval will become final and payments can be issued. For updates on the status of the Court’s ruling and the payment schedule, please check this website periodically. Retrieved from FogelSettlement.com
I have been a customer of this company for about 15 years now and never even got anything on this class action, nice huh? Too late now! Guess they didn’t want too many people in on this and didn’t notify all who have paid this company for years?
I received three letters the same day from John Chiang
state controller for California. It says I have unclaimed property, (money) with Farmers Fire Insurance Exchange but has nothing to do with the class action lawsuit. I don’t think its a scam.