Click HERE for a look at Zurich Insurance Group 2022 Half Year Financial Report.

Parry et al. v. Farmers Insurance Exchange, et al.

On November 16, 2022, the court granted final approval to the proposed settlement between the Plaintiff class and the Farmers Defendants. Read the article here

Moody’s Investors Service has downgraded the insurance financial strength (IFS) rating of Farmers Insurance Exchange, the lead member of Farmers Insurance Group (Farmers) to A3 from A2 and the surplus note rating to Baa3 (hyb) from Baa2 (hyb). The rating outlook for Farmers is stable. Read article here

Farmers Group Inc. on Oct. 5 said it promoted Raul Vargas to become the company’s 13th president and CEO at the start of 2023. Read article here.

Click HERE for a look at Zurich Insurance Group 2021 Financial Report Overview

2021 FGI Financial Overview

CLASS ACTION SETTLEMENT ON BEHALF OF CURRENT AND FORMER CALIFORNIA AGENTS

IF YOU WORKED AS AN AGENT AT FARMERS IN CALIFORNIA AT ANY TIME BETWEEN NOVEMBER 2013 AND THE PRESENT YOU ARE ELIGIBLE FOR PAYMENT

The plaintiffs and Farmers in the pending L.A. state court case have reached a settlement that resolves all claims on behalf of the previously certified class of California agents. The plaintiffs alleged that Farmers misclassified the class of California agents as independent contractors under California law; thus, Farmers violated the California Labor Code, which requires employers to reimburse their employees for any expenses they incur to do their job, and California Unfair Competition Law. The settlement is designed to protect the agents’ classification as independent contractors and provide $75 million in monetary benefits along with very important contractual changes.

The Success of the Settlement will depend on current and former agents’ participation and support. By participating, your identity will NOT be made known to Farmers. And importantly, Farmers supports the Settlement. 

It is very important that the agents’ attorneys reach as many former and current Farmers’ agents in the class to provide you information about the settlement and how you take advantage of its benefits. To that end, the lawyers for the agents will be hosting 3 information meetings in California as follows:

FEBRUARY 22, 2022

2PM PST

San Jose/Milpitas California Agent Roadshow

FEBRUARY 23, 2022

9AM PST

San Diego California Agent Roadshow

FEBRUARY 24, 2022

9AM PST

Los Angeles/Glendale California Agent Roadshow

Please consider participating in one of those meetings so that the attorneys can get you the information critical to receiving benefits from this settlement. 

Finally, it is CRITICAL that the agents’ attorneys receive accurate contact information for all agents in this class, including email and physical addresses for as many current and former California agents as possible.  If you do nothing else, PLEASE submit your up-to-date email and physical address to the agents’ attorneys either via the following website https://www.farmersinsurancelawsuit.com/ or via email at ClassAction@cruegerdickinson.com. 

Any questions can also be directed to the attorneys at the same email address.

This is a huge result for Farmers’ agents, and we need all California former and current agents support in making this a success!  Please get the attorneys your contact information so that they may communicate with all of you quickly about how to take advantage of the settlement and make it a success!

Plaintiffs and Defendants (“Farmers”) have reached a settlement that resolves all claims on behalf of the previously certified class, provides substantial monetary benefits to the class, and aims to protect the agents’ independent contractor status going forward. 

The Settlement is designed to protect the agents’ classification as independent contractors and provide $75 million in monetary benefits, with $40 million in Direct Payments allocated to all participating Class Members without the need for any Class Member to make a claim, and $35 million in Claims Payments of up to $10,000 to each Class Member who submits a claim for certain unreimbursed expenses related to Farmers Smart Office program. The Settlement also results in Farmers agreeing to specific business model and contract changes even though Farmers recently prevailed in a different case challenging similar practices. These changes aim to preserve and protect the agents’ independent contractor status going forward and also deliver at least an additional $15 million in value.

A webinar hosted by the Plaintiff's attorneys will be held on December 28, 2021, this meeting is for all California Farmers Agents (both current and retired) who had an active Agent Appointment Agreement from November 16, 2013, to present. Details regarding the case, settlement, and instructions for claiming your portion of the settlement will be discussed. 

Reserve your spot for the webinar on December 28, 2021,11:00am PT

For more information from Crueger Dickinson LLC go to  www.farmersinsurancelawsuit.com/ 

Contract_20201231_ExecutiveCompensation.pdf

OVERVIEW

The Cybersecurity and Infrastructure Security Agency (CISA) is leading a ransomware awareness campaign, Reduce the Risk of Ransomware, with information and resources for organizations and individuals to use. Also, CISA is emphasizing nine smart cyber habits individuals and organizations should implement to avoid falling victim to ransomware. 

WHAT IS RANSOMWARE

Ransomware is a type of malicious software, or malware, designed to infect computers and encrypt files until a sum of money or other form of ransom is paid. After the initial infection, ransomware will attempt to spread to connected systems, including shared storage drives and other accessible devices.

Malicious cyber actors commonly distribute ransomware through phishing emails or “drive-by downloads.” Phishing emails are messages that appear to be from a legitimate organization or a contact familiar to the victim, which can entice the user to click on a corrupt link or open an infected attachment. A “drive-by download” is a program that automatically downloads from the internet without the user’s consent and often without their knowledge. It is possible the corrupt code may run after download, without user interaction. After the code has run, the computer becomes infected with ransomware. 

SMART CYBER HABITS

During this awareness campaign, CISA emphasizes nine key messages that promote smart cyber behaviors or actions that individuals and organizations should implement to help prevent and mitigate ransomware attacks. 

1. Keep Calm and Patch On – Patching is essential for preventive maintenance that keeps machines up-to-date, stable, safe, and secure against malware and other cyber threats.
   
2. Backing Up Is Your Best Bet – It is critical to set up offline, encrypted backups of data and to regularly test your backups. The more you automate your backup system, the more frequently you can back up your data. 
3. Suspect Deceit? Hit Delete. – If an email looks suspicious, do not compromise your personal or professional information by responding or opening attachments. Delete junk email messages without opening them. 
4. Always Authenticate – Implement multifactor authentication (MFA) to prevent data breaches and cyber-attacks. This includes a strong password and at least one other method of authentication. 
5. Prepare and Practice Your Plan – Create, maintain, and exercise a basic cyber incident response plan and associated communications plan that includes response and notification procedures for a ransomware incident. 
6. Your Data Will Be Fine If It’s Stored Offline – Local backups, stored on hard drives or media, provide a sense of security in case any issues occur. Keep your backup media in a safe and physically remote environment. 
7. Secure Your Server Message Block (SMB) – SMB vulnerabilities allow their payloads to spread laterally through connected systems like a worm. CISA recommends all IT professionals disable their SMB protocols to prevent ransomware and other malware attacks. 
8. Paying Ransoms Doesn't Pay Off – The U.S. government recommends against paying any ransom to cyber-crime organizations or malicious cyber actors. Paying a ransom only funds cybercriminals, and there is no guarantee that you will recover your data if you do pay. 
9. Ransomware Rebuild and Recovery Recommendations – Identify the systems and accounts involved in the initial data breach and conduct an examination of existing detection or prevention systems. Once the environment is fully cleaned and rebuilt, issue password resets for all affected systems and address any associated vulnerabilities and gaps in security or visibility.

Original Document HERE