California reconsiders State Farm rate hike as insurer’s losses rise
State Farm General requested a 22% emergency rate hike in California to cover losses from the Los Angeles County wildfires and stop its “financial deterioration.” Lara declined the request, and asked that Krause and other company officials to meet with him to answer questions about why higher rates were needed.
California insurance regulators urge State Farm to expand coverage in exchange for rate hikes
Earlier this month, State Farm — the state’s largest home insurance provider — asked the California Department of Insurance to approve statewide rate increases averaging 22% for homeowners. It also requested a 15% increase for renters and condo owners and a 33% hike for rental owners.
State Farm's financial results improved in 2024, though the Bloomington-based company still posted an underwriting loss of ...
State Farm is asking the state of California if it can temporarily raise its homeowner insurance rates because the company ...
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State Farm estimates $7.6 billion in LA wildfire losses, continues seeking interim rate requestState Farm Insurance Group said this week that it has paid out $1.75 billion on approximately 9,500 claims filed as a result ...
US primary insurance giant State Farm has said that its direct losses from the Los Angeles, California wildfires are ...
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California Senate Bill takes aim at saving farm landsAmid a push by local leaders to conserve farmlands and open spaces in the Bay Area from future development, state senator David Cortese has introduced a bill that would shore up funding to preserve ...
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