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State Farm canceled 72,000 policies in California, nearly half of which were for home insurance, Barron’s reported. Allstate stopped selling policies in the Golden State for businesses and ...
State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. Consumer Watchdog alleges the home insurer is hiding earnings. State Farm accused of funneling excess ...
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 ...
The lead plaintiff, Joan St. Julian, claims that State Farm violated the law by failing to pay sales tax to drivers when reimbursing them for the "actual cash value" of their cars that were deemed total losses. [70] According to the lawsuit, State Farm systematically underpaid claims made by thousands of consumers who experienced total vehicle ...
State Farm Fire and Casualty Company is an insurance company. [3] Prior to 2005, State Farm offered two types [fn 1] of insurance policies to homeowners: flood insurance, which would be reimbursed by the federal government's National Flood Insurance Program, and general homeowner insurance, which would be paid directly by State Farm. [3]
State Farm ran a 60-second spot in last year's game that starred Arnold Schwarzenegger and Danny DeVito. The ad won USA TODAY's annual Super Bowl Ad Meter , a tool used to measure public opinion ...
[1] [2] [3] The FAIR Plan was established in 1968 by a statutory amendment to the California Insurance Code (specifically, section 10090 et seq. [4]), and is regulated by the office of the California Insurance Commissioner. The plans are typically more expensive and provide less coverage than commercial plans. [5]
"State Farm to pull out of 72,000 California insurance policies," blared a Reinsurance News headline. State Farm provides nearly 21 percent of state homeowner policies, so this is big news.