Posted On: September 25, 2006, 3:04 pm CDT

Posted By: ComplianceGuy

Farmers apparently has the same theory of truth that the Bush Adminstration has, that if you believe something to be true, that it obviously must be (therefore, all other evidence can and must be disregarded - WMD anyone?). Using a basic insurance regulatory search program, I found CA DOI Notice CA-IA 5-15-96 Amendment to Prior Approval Rate Application that addresses installment fees. These fees are considered attachments to rate filings. I as and the DOI confirms that installments are premium. I can empathize that the disclosures may have been on the wrong piece of paper, but unless the installment charges were filed, Farmers evaded the regulatory rate approval process by charging an unapproved fee.