Farmers Insurance Group has been fined $750,000 for allegedly setting up incentives for auto insurance adjusters to underpay some claims and deny others. According to North Dakota Insurance Commissioner Jim Poolman, the fine is the largest the Insurance Department in his state has ever imposed. Because state law requires the money to go into [...]
Nationwide Mutual Insurance Company has paid more than $25 million to settle hundreds of claims by Mississippi policyholders whose homes were damaged by Hurricane Katrina. Nationwide agreed in April to reevaluate and readjust 641 claims by policyholders. Most of those reopened claims were for homes that Katrina reduced to slabs, leaving nothing but foundations [...]
A jury in Florida has awarded The Broadcast Team Inc., an Ormond Beach business, $18.8 million against Hartford Insurance Co. of the Southeast. The issue involved in the case was whether the company should have been protected by the insurer from the actions of someone who worked for it. In 2001, the company [...]
As many of you know, over the past several years, mortgage interest rates have been at historical lows. These low interest rates have allowed many consumers to save great sums of money and lower their monthly mortgage payments. Better yet, some people have been allowed to take part in the “American Dream” by [...]
There has been a great deal of activity concerning lawsuits pending against State Farm Insurance Co. arising out of Katrina and related matters. I will mention two of the more important events below.
COMPANY SUES STATE FARM WHISTLE BLOWERS
In our last issue, we wrote on the activities of the Rigsby sisters. Now, a [...]
