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Over the last 9 years, the lack of alignment between price and risk means that for every $1.00 collected in premium, State Farm General has spent $1.26, resulting in over $5 billion in cumulative ...
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 ...
In the wake of the wildfires, State Farm General noted that they had already received more than 8,700 claims as of Feb. 1 – paying out more than $1 billion, with the company noting that they ...
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".
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.
In February 2025, State Farm, the largest home insurer in California, requested state regulators to approve an emergency rate increase due to the financial strain caused by payouts related to the January 2025 Southern California wildfires. The company is seeking an average rate hike of 22%, effective May 1, 2025.
State Farm had already said in 2023 that it would no longer offer home insurance to new customers in California, in part because of catastrophe exposure. Allstate, the sixth-largest home insurer ...
For example, the 2003 Campbell decision involved State Farm's handling of litigation resulting from a fatal car accident in 1981, 22 years earlier. Another important feature of Campbell is that it powerfully illustrates how an insurer cannot avoid tort liability for bad faith by belatedly attempting to cure its breach of contract.