Financial Services Industry
Industry: Email Alert RSS FeedFarmers agents charge carrier with antitrust. (Farmers Insurance Group sued by agents over Agency Network System)
National Underwriter Property & Casualty-Risk & Benefits Management, June, 1992 by Mulcahy, Colleen
Agents for the Farmers Insurance Group have filed two lawsuits seeking some $600 million in damages for alleged violation of antitrust laws. The suits, both filed in U.S. District Court for the Western District of Texas (Austin), are related to Farmer's Agency Network System--an automated network through which agents can gain rating, marketing and policyholder information.
The agents allege that Farmers has coerced producers into purchasing its computer equipment - since without that equipment, agents are denied access to the information available on the Agency Network System, although it is available via other means. Access to the networks, however, is critical to the agents' ability to be productive, according to Bogdan Rentea, an attorney for the...
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