Fire Insurance Exchange Class Action Settlement

Class Eligibility

You are part of the Settlement Class covered by the proposed Settlement if:

  • You are or were an Insured on a Policy;
  • You suffered a loss of or damage to contents and/or structure which was covered under a Policy;
  • You submitted an Insurance Claim to Fire Insurance Exchange for such loss or damage;
  • You received at least one actual cash value property loss payment on that Insurance Claim on or after May 6, 2010 and Fire Insurance Exchange applied depreciation in determining the actual cash value of lost or damaged property in connection with that Insurance Claim;
  • Your Insurance Claim had all “Claims Units” closed as of March 31, 2015; and
    Your Insurance Claim includes at least one “Eligible Claims Unit”.

“Claims Unit” means either (a) a contents or (b) a structure claims unit (structure claims units include any flooring unit) as reflected in Fire Insurance Exchange’s claims file for an Insurance Claim. Your Insurance Claim may have only one type of Claims Unit or both.

“Eligible Claims Unit” means any Claims Unit except and excluding: (a) a Claims Unit for which payments made by Fire Insurance Exchange were equal to or exceeded all applicable limits or sub-limits in the applicable Policy; (b) a Claims Unit with no “Net Outstanding Depreciation”; (c) a structure Claims Unit with a total loss paid on a fair market value basis; or (d) a contents Claims Unit in which an insured making an Insurance Claim submitted information on the Website, on or after November 1, 2012, about lost or damaged contents items.
“Net Outstanding Depreciation” means, separately for each Claims Unit, the amount of total replacement cost estimated by Fire Insurance Exchange minus the total of (a) applied deductible, (b) paid actual cash value and (c) paid recoverable depreciation.

Estimated Amount


12.5% of the Net Outstanding Depreciation for each Eligible Claims Unit

Proof of Purchase


Case Name

Alexander v. Fire Insurance Exchange,

Case No. BC460992
California Superior Court, County of Los Angeles.

Case Summary

According to the plaintiffs Fire Insurance Exchange improperly took excess depreciation in determining actual cash value, this resulted in the underpayment of some property loss or damage claims.

Settlement Pool





FIRE Settlement Claims,

P.O. Box 2280,

Faribault, MN 55021-2415.



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