Los Angeles based Farmers Insurance, a subsidiary of Zurich Financial Services, has lost a $130 million jury verdict to homeowners who alleged the company breached their contract and showed bad faith and fraud in underpaying on claims. The company failed to pay contractors for overhead and profits.
The class action suit contained 76,000 people who averaged $575 in unpaid bills.
A Lawton, Oklahoma jury awarded the homeowners $50 million for breach-of-contract, $50 million for bath faith and $30 million in punitive damages.
According to The Los Angeles Times, this is the 14th largest Jury Verdict in the U.S. this year.
Farmers is appealing the award.
As a personal injury law firm, we often see Insurance adjusters, working for insurance companies, further victimize injured persons by failing to provide just and fair compensation for medical expenses and for pain and suffering. If you have been severely injured in an accident, or if a family has been killed, contact the personal injury specialists at The Farber Law Group. We have more than 30 years experience in the Seattle area and we know how to negotiate with insurance companies.
Contact us today for a free and confidential case consultation.