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CALIFORNIA IN BRIEF : LOS ANGELES : Fine Print in Quake Policies Is Assailed

October 31, 1989|From Times Staff and Wire Reports

Insurance companies should be forced to disclose the fine print in earthquake policies, State Board of Equalization member Conway Collis said. He accused some companies of "fraudulent" marketing practices. Collis, a candidate in next year's election for state insurance commissioner, said insurers have not been telling consumers that the usual 10% deductible in most earthquake insurance policies applies to the value of the property--not the damage or the property's original cost. A spokesman for Farmers Insurance Group, one of the state' largest home insurers, said Collis' allegations were unfounded.

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