It’s been a decade since Texas’ top insurance regulator accused State Farm of overcharging its homeowner policyholders and ordered the insurance giant to pay back more than $250 million. The company refused and took the fight to court, where it is still going strong with no end in sight.
It has been so long that many of the people who are owed money by State Farm Lloyds have died, moved or forgotten about the disputed refund.
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June 11, 2003: Governor signs Senate Bill 14.
June 26, 2003: State Farm Lloyds files its rates with the state for the first time.
Aug. 8, 2003: Insurance Department staff notifies State Farm that its rates are excessive and must be reduced by 12 percent; State Farm appeals.
Sept. 12, 2003: Insurance commissioner upholds staff recommendation.
Sept. 22, 2003: State Farm files petition for review in state District Court in Travis County.
Nov. 8, 2004: Court vacates commissioner’s order, finding it null and void.
Feb. 9, 2005: State appeals to 3rd Court of Appeals in Austin.
May 22, 2008: Court remands the case to the commissioner for rehearing.
March 30, 2009: Rehearing begins.
Nov. 16, 2009: Commissioner orders modified rate reduction and refunds.
Nov. 30, 2009: State Farm appeals to state District Court in Travis County.
April 11, 2011: Court affirms commissioner’s order.
May 10, 2011: State Farm appeals to 3rd Court of Appeals.
Dec. 14, 2011: Oral arguments presented to 3rd Court.
Today: Case pending.
Source: Texas Department of Insurance