State Farm Was All In on California—Until It Pulled the Plug Before the Fires
Insurer aggressively grew in Los Angeles, despite getting overweight on fire risk, but decided to cut thousands of policies ...
Los Angeles Magazine on MSN1d
State Farm Seeks 22% Rate Hike for California Homeowners
State Farm General, California's largest home insurer, has asked state regulators to approve an immediate 22% rate increase ...
State Farm asks for emergency 22% increase for California premiums, but critics cry foul
Citing what it calls a potentially “dire situation,” State Farm asked California for permission to hike insurance rates by an ...
California FAIR Plan gets $1 billion assessment to head off insolvency
It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
State Farm asks California to approve rate hikes after wildfires
State Farm is asking California's insurance regulator to approve an emergency rate hike due to the number of claims it ...
Mansion Global4h
California’s State Insurance Gets $1 Billion Infusion as Wildfire Claims Overwhelm Providers
The FAIR Plan is funded by pooled money from insurers in the state in exchange for covering high risk properties ...
California State Farm homeowners frustrated by rejected water damage claims. ‘No basis’
State Farm has treated some water claims as if they were the result of ongoing issues, even when homeowners report them as ...
State Farm seeks rate hikes in California to offset wildfire payouts
California's largest private insurer, State Farm, on Monday urged the state's insurance regulator to approve an emergency ...
East Bay Times9d
State Farm seeks 22% rate hike for California homeowners to cover Los Angeles wildfire losses
State Farm, the largest insurance company in California, has asked state regulators to immediately approve a steep rate hike ...
State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, ...
California’s FAIR Plan gets $1 billion bailout as wildfire claims in the US state surge
California’s FAIR Plan is receiving a $1 billion bailout after running out of funds to cover wildfire claims, highlighting ...
Wall Street Journal5d
State Farm Was All In on California—Until It Pulled the Plug Before the Fires
After the pandemic, most home insurers were fleeing wildfire-prone areas of California. But State Farm was there—and making a huge bet. It gobbled up market share—and generated substantial ...