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Citing what it calls a potentially “dire situation,” State Farm on Monday asked California for permission to hike insurance rates by an average of 22%. In the wake of the Los Angeles-area ...
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 ...
The insurance regulator will investigate these rate-increase applications, a spokesperson told Reuters in an email. State Farm insures 250,000 homes and 880,000 automobiles in Los Angeles County ...
Proposition 103, titled Insurance Rate Reduction and Reform Act, was a California ballot proposition voted on in the 1988 California General Election. It passed with 51% of the vote on November 8, 1988. [1] Proposition 103 expanded the regulatory capacities of the California Department of Insurance, especially in property and casualty insurance.
The State of California has in existence an automobile Liability insurance program (LCA) that assists people whose income is below a certain level to purchase insurance at greatly reduced rates. The objective is to give all residents of California the opportunity to be insured by providing affordable options.
In the letter State Farm sent to the state, the company said, "Over the last nine years, the lack of alignment between price and risk means that for every $1.00 collected in premium, State Farm ...
In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
The Lifeline Program, another FCC program making phone and internet access more affordable, offers a monthly benefit up to $9.25 off the cost of phone, internet or bundled services. If you live on ...
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