NU Online News Service, Oct. 07, 11:26 p.m. EDT
Zurich Financial Services Group said its subsidiary, Farmers Group has agreed in principle to a $545 million settlement of a class action lawsuit that had accused the insurance group of overcharging for fees paid by the Farmers Exchanges.
According to Zurich, it will expect a charge of about $295 million from the settlement to be reflected in third-quarter net earnings, to be released on Nov. 4.
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