Allstate and Farmers insurance organizations agreed on Friday to pay $35.7 million to settle a class-action lawsuit that has claimed the insurers of overcharging their policyholders for the recent decade. Texans originally sought more than $100 million in damages.
A state judge has now approved a $35.7 million settlement in a class-action lawsuit against Allstate and Farmers insurance companies Wednesday despite objections by the insurance commissioner and consumer organizations.
Policyholders of the state�s two largest insurance companies Allstate and Farmers are alleging that the organizations overcharged them more than $100 million in the past decade through illegal billing practices.
