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Capital is necessary so an insurance company can pay for any future claims for the risks it insures," State Farm General said in an open letter to the California Department of Insurance.
State Farm, California’s largest insurance company, this week urged the state to approve an emergency rate hike of 22% for homeowner policies starting in May after processing nearly 8,700 claims ...
Last June, the company made three requests for extraordinary “relief” from the standard rate-setting process in California, using a legal process known as a "variance," often used by insurance ...
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 ...
Under the new regulations, companies must make their services available in high-risk areas to do business in the state, the first such requirement in California history. Insurers must…
The cost of auto claims has soared across the United States since the start of the COVID-19 pandemic, according to the Insurance Information Institute. But the pandemic isn't solely to blame.
Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at ...
State Farm had the largest California market share in 2023 with 19.9%, followed by Farmers Insurance with 14.9%, as well as CSAA Insurance Exchange and Liberty Mutual with 6.5% each.