Farmers to Settle Charges for $1 Million
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Farmers Insurance Group has agreed to pay a $1-million fine to settle charges that it mishandled about 350 claims filed by policyholders from 2001 to 2004, the California Department of Insurance said.
The majority of the consumer complaints involved delays in investigations and payments of pending automobile and homeowner insurance claims at the Los Angeles-based company, the department said.
A Farmers spokeswoman said the fine was related to “administrative and reporting issues.”
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