Farmers Insurance Co. Ordered to Pay $80 Million
Posted By dhodges@kennedyhodges.com on Sep 30, 2008 10:34am PDT
An Oklahoma jury has ordered Farmers Insurance Co. to pay $80 million to a class of policyholders who claimed that the insurer underpaid claims. In the lawsuit, policyholders alleged that Farmers engaged in bad faith and fraud by failing to pay for general contractors. The award includes $50 million in compensatory damages and $30 million in punitive damages. Staff and Wire Reports, Tulsa World 09/26/2008
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