State insurance officials say a Montana legal services charity will receive $1.2 million from a law firm that represented plaintiffs in a class-action lawsuit over insurance fees.
Montana Securities and Insurance Commissioner Monica Lindeen is scheduled to announce final resolution of the lawsuit against Farmers Group, Inc. in Billings on Thursday.
After Farmers struck a $455 million deal to settle the case more than a year ago, officials from several states protested the return of unclaimed settlement funds to the company’s subsidiaries.
The $1.2 million from the plaintiff’s attorneys will go to Montana Justice Foundation, a non-profit group that gives grants for legal assistance for people who can’t afford an attorney.
Lindeen’s office says the foundation has seen its annual budget cut by more than 80 percent since 2007.
Was this article valuable?
Here are more articles you may enjoy.
Winter Storm Fern to Cause Up to $6.7B in Insured Losses 
The $3 Trillion AI Data Center Build-Out Becomes All-Consuming for Debt Markets 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Beazley Agrees to Zurich’s Sweetened £8 Billion Takeover Bid 
