Connect with us

Uncategorized

Officials: Oklahoma reaches $ 25 million settlement with farmers’ insurance on earthquake claims

Avatar

Published

on


Oklahoma City (KFOR) – In the wake of the devastating earthquakes in Oklahoma, state leaders say they have finally reached a settlement agreement with Farmers Insurance.

From 2010 through May 206, officials say only 19 percent of Oklahoma’s earthquake insurance claims were paid.

In fact, the claims of many homeowners who suffered significant seismic damage were rejected because insurance companies viewed the damage as a mere settlement.

A local attorney raises earthquake insurance concerns

Now, Oklahoma Attorney General Mike Hunter and Insurance Commissioner Glenn Mullreddy say they reached a $ 25 million settlement with Farmers Insurance for the company to handle its earthquake claims.

An investigation revealed that farmers denied or failed to pay about 1,000 earthquake claims filed by Oklahomans who bought coverage.

As a result, the company will reopen the claims process and reassess claims using an independent administrator. The claims approved by the official will then be paid in relation to the individual’s policy.

Verdict: Farmers’ insurance pays millions to Oklahoma hurricane victims

“This is a great victory for Oklahomans who paid farmers earthquake insurance premiums,” said Attorney General Mike Hunter. I am happy to announce that after the negotiations the farmers have agreed to this settlement. Through a comprehensive process, we will ensure that every Oklahoman who suffered legitimate damage from the earthquake and submitted a claim to farmers has the opportunity to independently review their claim and repair damage to their property. ”

According to the agreement, farmers will make additional payments as needed if property damage exceeds the agreed amount to pay eligible earthquake claims.

Update: The jury decides in favor of the insurance company in the case for the More Tornado

“This latest settlement is another example that the Attorney General and I are committed to protecting all consumers in Oklahoma,” said Oklahoma Insurance Commissioner, Glenn Mulredy. “We appreciate the Attorney General’s partnership in resolving this issue.”

Officials say farmers will send all eligible Oklahomans a written notice to reopen their claim for review.

If an eligible individual has more than one eligible earthquake claim, all eligible earthquake claims will be re-examined.

Close the model suggested a correction that suggested a correction

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



Picture Credit!

ExBUlletin

to request, modification Contact us at Here or [email protected]