Farmers Ins. Group to fight $183M Prop. 103 refund order. (Farmers Insurance Group): An article from: National Underwriter Property & Casualty-Risk & Benefits Management

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on January 2, 1995. The length of the article is 661 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Farmers Insurance Group has decided to contest California Insurance Commissioner John Garamendi's order that it refund its policyholders a sum of $183 million. Garamendi, the outgoing commissioner, ordered 29 insurance companies including Farmers to make $1.2 billion in refunds under the aegis of Proposition 103. Garamendi said that Farmers should obey the order and make the rebate since the upholding of Prop 103 by the California Supreme Court has enshrined Prop 103 as law. Farmers' plans to contend that the rate rollback formula that prompted the rebate was misapplied in Farmers' case.

Citation Details
Title: Farmers Ins. Group to fight $183M Prop. 103 refund order. (Farmers Insurance Group)
Author: Alfred G. Haggerty
Publication:National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: January 2, 1995
Publisher: The National Underwriter Company
Issue: n1 Page: p2(2)

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