Filed Under:Claims, Litigation

Zurich's Farmers Group Settles Class Action For $545M

NU Online News Service, Oct. 07, 11:26 p.m. EDT

Zurich Financial Services Group said its subsidiary, Farmers Group has agreed in principle to a $545 million settlement of a class action lawsuit that had accused the insurance group of overcharging for fees paid by the Farmers Exchanges.

According to Zurich, it will expect a charge of about $295 million from the settlement to be reflected in third-quarter net earnings, to be released on Nov. 4.

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