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When Assaf Sasson’s 2022 all-electric Porsche Taycan was damaged in a crash, he was prepared to pay his $500 insurance deductible to get it fixed.
State Farm Insurance, the largest insurance company in California, is asking regulators for the OK to raise property insurance rates by 22 percent just weeks after fires ripped through Los Angeles ...
Citing what it calls a potentially “dire situation,” State Farm on Monday asked California for permission to hike insurance rates by an average of 22%. In the wake of the Los Angeles-area ...
State Farm Mutual Automobile Insurance Co. v. Campbell, 538 U.S. 408 (2003), was a case in which the United States Supreme Court held that the due process clause usually limits punitive damage awards to less than ten times the size of the compensatory damages awarded and that punitive damage awards of four times the compensatory damage award is "close to the line of constitutional impropriety".
According to their policy, State Farm was obligated to pay up to $250,000 per person or $500,000 per occurrence, with a personal liability limit of $1 million. [69] State Farm refused to pay the awarded amounts of $100,000 for Charles Cook and $400,000 for Bernadette Cook when they pursued their claim.
Over a nine-year period ending 2024, State Farm said it would pay $1.26 in claims and expenses for every $1.00 collected in premium, resulting in more than $5 billion in cumulative underwriting ...
Motor Vehicle Manufacturers Association v. State Farm Mutual Automobile Insurance Co., 463 U.S. 29 (1983), commonly known in U.S. administrative law as State Farm, is a United States Supreme Court decision concerning regulations requiring passive restraints in cars.
California Insurance Commissioner Ricardo Lara recently issued a regulation, which goes into effect later this month, that allows reinsurance costs to be passed on to customers in their premiums ...