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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 ...
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 is seeking increases of as much as 52% for some of its residential insurance rates in California, which could ramp up the financial burden for many homeowners and renters in the state ...
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.
California has the only legislatively mandated nurse-to-patient ratios in the country. [3] In December 2020, during the fall/winter COVID-19 pandemic surge, governor Gavin Newsom gave all hospitals a temporary waiver from those mandates, which allowed hospitals, for example, to have ICU nurses care for three patients rather than two.
State Fund's current San Francisco corporate headquarters at 333 Bush Street. The State Compensation Insurance Fund (State Fund) is a workers' compensation insurer that was created as a "public enterprise fund" by the U.S. state of California, [1] and today has partial autonomy from the rest of the state government.
"State Farm to pull out of 72,000 California insurance policies," blared a Reinsurance News headline. State Farm provides nearly 21 percent of state homeowner policies, so this is big news.
State Farm said in its statement that it recognizes government officials and the California Department of Insurance (CDI) for their wildfire loss mitigation efforts. "We take seriously our ...