|
|
Article: Farmers Insurance Group Agrees to Tentative Deal in Texas.
- Article from:
- Austin American-Statesman (Austin, TX)
- Article date:
- November 11, 2002
CopyrightCOPYRIGHT 2002 Austin American-Statesman. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Shonda Novak
Nov. 11--Farmers Insurance Group will keep renewing home insurance policies for another month under an interim agreement with state officials reached late Sunday.
The agreement, confirmed by several sources, averts an escalation of the state's insurance crisis by keeping the second-largest home insurer from following through on its threat to leave Texas, at least for now.
Negotiations are continuing on a permanent agreement to resolve a bitter feud over the state's allegations that the company uses illegal pricing practices and inflates its profits.
Farmers had told its 700,000 customers that it would stop renewing ...