The only reason Farmers is paying up in Texas is because they\’re under a magnifying glass with TDI and they have half the number of customers they had 3 years ago. AND, they don\’t even write wind in the coast in Texas like State Farm and Allstate does. Of course it\’s going to go smoothly when you have a fifth of the number of claims as the rest of people. Duh.
A $1 million fine won\’t affect Farmers\’ Insurance. Of course, they\’ll use it as an excuse if their company gets into trouble in the next quarter or so, but, as it\’s been said, it\’s all \”smoke and mirrors\”. If they\’ve been up to this sort of crap as long as people say, then the fine should be ten or even fifty times as much as it was.
no comapny is perfect…Farmers response to hurricane rita has been stellar. the new administration has not been at the helm very long, we certainly have seen improvements in texas. Ask anyone in Southast Texas who has paid quickly and with the least hassles; Farmers name will come up. Call me a homer, but my customers are super happy!
Folks, this is what the CA DOI is all about. The fines generated start at $5,000 per occurrence and can be doubled to $10,000 per occurrence if it is determined that it is a business practice (per type of occurrence.)
Based upon the size of the fine and the percentage of overall business written in CA by Farmers, this is a very small fine and was drastically reduced through negotiations. Been there, done that, got the t-shirt.
The next step is for the CA DOI to sum up all the $$$ generated by fines and present that information to the public and the state legislators, as it serves a dual purpose. It gives the consumers warm and fazzies, as the DOI is showing that they are taking money from the big, bad insurance carriers. Secondly, they can tell the lawmakers that they are generators of $$ to the state\’s treasury and they should get their budget request approved, so that they can go and generate additional income for the state.
SMOKE & MIRRORS!!!!!
This is not just another story folks. This company is in trouble. Knowing how Farmers operates, they\’ll have their stooges posting polite words here and will most likely introduce some new and wonderful discount for their policyholders tomorrow just like they did when Garamendi criticized them for their W/Comp rating. Farmers is proud of their slogan: \”We get you back to Court where you belong.\”
DM: You shd be proud to be a Farmers agent for the first forty years but not the last 10. Unfortunately you don\’t deal with claims so you really don\’t have a clue how horrible Farmers is these days. It took a class action for Farmers to stop using Collosus on first party claims and it took another class action to get Farmers to pay their adjusters overtime. You work for a company that was not bad before but is very bad now.
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The only reason Farmers is paying up in Texas is because they\’re under a magnifying glass with TDI and they have half the number of customers they had 3 years ago. AND, they don\’t even write wind in the coast in Texas like State Farm and Allstate does. Of course it\’s going to go smoothly when you have a fifth of the number of claims as the rest of people. Duh.
A $1 million fine won\’t affect Farmers\’ Insurance. Of course, they\’ll use it as an excuse if their company gets into trouble in the next quarter or so, but, as it\’s been said, it\’s all \”smoke and mirrors\”. If they\’ve been up to this sort of crap as long as people say, then the fine should be ten or even fifty times as much as it was.
Gee what a surprise. I am only suprised since this has been going on for 25+ years
BB
I wonder, will any other insurance boards in any other state follow this example and \”find others and fine them\” for their poor claims service?
they should look into Farmers treatment of new applicants. and the way Farmers handle new business
no comapny is perfect…Farmers response to hurricane rita has been stellar. the new administration has not been at the helm very long, we certainly have seen improvements in texas. Ask anyone in Southast Texas who has paid quickly and with the least hassles; Farmers name will come up. Call me a homer, but my customers are super happy!
Folks, this is what the CA DOI is all about. The fines generated start at $5,000 per occurrence and can be doubled to $10,000 per occurrence if it is determined that it is a business practice (per type of occurrence.)
Based upon the size of the fine and the percentage of overall business written in CA by Farmers, this is a very small fine and was drastically reduced through negotiations. Been there, done that, got the t-shirt.
The next step is for the CA DOI to sum up all the $$$ generated by fines and present that information to the public and the state legislators, as it serves a dual purpose. It gives the consumers warm and fazzies, as the DOI is showing that they are taking money from the big, bad insurance carriers. Secondly, they can tell the lawmakers that they are generators of $$ to the state\’s treasury and they should get their budget request approved, so that they can go and generate additional income for the state.
SMOKE & MIRRORS!!!!!
This is not just another story folks. This company is in trouble. Knowing how Farmers operates, they\’ll have their stooges posting polite words here and will most likely introduce some new and wonderful discount for their policyholders tomorrow just like they did when Garamendi criticized them for their W/Comp rating. Farmers is proud of their slogan: \”We get you back to Court where you belong.\”
Don\’t get me started on their \”bonus\” program. Don\’t get me started on women agents either, because there are none.
http://www.badfaithinsurance.org/indexdetaillist.html
DM: You shd be proud to be a Farmers agent for the first forty years but not the last 10. Unfortunately you don\’t deal with claims so you really don\’t have a clue how horrible Farmers is these days. It took a class action for Farmers to stop using Collosus on first party claims and it took another class action to get Farmers to pay their adjusters overtime. You work for a company that was not bad before but is very bad now.