Farmers Insurance fees
Farmers Insurance fees
Settlement: $455 million
Pay-out per customer: $35

In December, Farmers Insurance agreed to pay $455 million to settle a lawsuit that it had charged customers $9 billion in excessive management fees on its insurance products since 1999.

Of that settlement amount, attorneys will get $73 million, pending the court's final approval. As for the more than 13 million customers who paid the fees? They are expected to get an average of $35 apiece, said Jerry Flanagan, staff attorney for Consumer Watchdog, the consumer rights organization.

"We believe it's a fair and reasonable settlement for all parties," said Farmers' press spokesman, Mark Toohey. The company said the allegations were baseless.


By Les Christie @CNNMoney - Last updated February 15 2012: 5:41 AM ET
Join the Conversation
What the foreclosure settlement means for you

The nation's largest banks struck a $26 billion deal to settle charges of abusive foreclosure practices.

Find Homes for sale
  • Property Type
  • Find a home in:
    New York | Atlanta | Chicago | Los Angeles
    Washington D.C | Houston | Philadelphia | More options
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.