State Farm Owes $350M In Refunds, Texas Judge Says

Law360, New York (April 12, 2011, 3:11 PM EDT) -- A Texas state judge ruled Monday that State Farm Insurance is on the hook for about $350 million in refunds for homeowners insurance premiums, upholding a 2009 opinion from the Texas insurance commissioner.

Judge Tim Sulak in the 201st Judicial District Court in Travis County, Texas, issued the ruling after hearing oral arguments Monday, said Jerry Hagins, a spokesman for the Texas Department of Insurance. Refunds are not on their way yet, though, because State Farm said it plans to appeal.

The 2009 ruling determined that...
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