Wednesday, November 07, 2007

Louisiana Attorney General Charles Foti filed a lawsuit against Farmers Insurance

Louisiana Attorney General Charles Foti filed a lawsuit against Farmers Insurance and other insurance companies claiming they worked together to manipulate damage estimates and low-ball claims payments after the 2005 hurricanes. The lawsuit claims the companies coerced policyholders into settling damage claims for less than their actual value by editing engineering reports, delaying payments and forcing policyholders to go to court to challenge the estimates.

"This alleged scheme," Foti said in a written statement, "gave insurers an unjust advantage over policyholders ... by reaping huge profits from the misfortunes of persons whom they pledged to protect from the risk of loss."

journalgazette.net

nola.com

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