Ok I am really ticked off now...my Insurance premium went up $200. per year even thou I have had zero claims payed out...I have had zero fault accident claims, only one minor violation in 19 years that I have been with Farmers Ins...and that was 3 years ago 48 in a 45 zone...I have never had a DUI or any other factor that would justify raising my rates. So why pray tell have my rates gone up...are auto Insurance companies jumping on the Obamacare wagon to justify their rates or have they just become greedy...who knows but I am registering my complaint via my blog! Oh and I was told by my agent my rate would go up again next year as I turn 70...is this age discrimination?...I believe so...what pray tell does my age have to do with it as my driving record is almost spotless!
Information of Farmers Insurance Group :
Farmers Insurance, Texas Reach Tentative Deal on Mold Claims
The state of Texas and Farmers Insurance want to settle
decade-old claims of overcharging and underserving customers for $117.5
million, which would be one of the largest insurance settlements in
state history but less than what some people wanted. A …
Farmers Launches New Corporate Logo
Farmers Insurance has unveiled a new corporate logo as part of
the company’s next “evolutionary step,” the Los Angeles-based carrier
announced on Wednesday. New York City based-Lippincott is the creative
partner on the new Farmers logo. Lippincott is the firm behind a …
D.C. Lobbyist Gannon to Head Federal Affairs for Farmers Insurance
Washington, D.C. lobbyist Matt Gannon was named head of federal
affairs at Farmers Insurance. Gannon replaces Mike Moran, who left Los
Angeles, Calif.-based Farmers to take a position with Zurich North
America as assistant vice president of government Affairs. Gannon joins
Farmers …
Zurich Posts $1.1 Billion Q1 Net Profit; Near $1.4 Billion Operating
The Zurich Insurance Group reported a business operating profit
(BOP) for the first quarter of 2012 of $1.3758 billion, a 62 percent
rise from $854 million in Q1 2011, and net income after tax of $1.143
billion for the period, …
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Recent Developments
- Farmers’ nationally acclaimed University of Farmers® once again received high recognition, placing fourth in this year’s Top 125 Training Awards for corporate training. This is the third year in a row that Farmers has placed in the top four for this prestigious award. The award continues to reflect our goal of providing the best value and experience for every customer we are privileged to serve.
- The e-policy or electronic availability of policy documents have improved customer experience and continued to expand in popularity with our customers in 2012.
- The new Farmers All Lines Billing program has improved the overall billing experience for the customer, as reflected by higher Net Promoter Scores, improved on time payments, less notice of cancellations and a lower ratio of service requests to statements.
- Farmers Insurance Group continues to expand geographically into the East, with New York rolling out in the first half of 2013. This continues to be a positive development for the Exchange policyholders, as spreading risks geographically means that a single disaster has less impact on the Exchange.
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How was your premium dollar spent by Farmers Insurance Exchange in 2012?
Your premium dollar covers Exchange costs including losses incurred, acquisition costs, taxes, license fees, the AIF fee, and any contributions to surplus. For 2012, the AIF fee was 13.9 percent of the premium dollar, which included the AIF profit of 7.17 percent of the premium dollar for that year. The results of the Farmers Insurance Exchange were impacted by the large number of catastrophe losses but the company still maintained a strong capital base with surplus of $3.8 billion.
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Can the Exchange lose money?
If premiums collected exceed claims payments and other expenses (including the fee for the AIF), then the Exchange retains those net premium earnings (as contributions to surplus). If premiums are not sufficient to cover claims and expenses, the Exchange will lose money. That's one reason it is important to build a cushion against possible future losses. The AIF does not participate in claims losses and does not enjoy any net premium earnings. Importantly, subscribers are not responsible for any losses the Exchange might suffer.
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Where can I get more information about the Exchange?
If you have additional questions, please contact:
Subscriber Relations Office
Farmers Insurance Exchange
Attn: Corporate Secretary
P.O. Box 51161
Los Angeles, CA 90051-5461
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