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State Farm canceled 72,000 policies in California, nearly half of which were for home insurance, Barron’s reported. Allstate stopped selling policies in the Golden State for businesses and ...
State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. Consumer Watchdog alleges the home insurer is hiding earnings. State Farm accused of funneling excess ...
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 ...
California's insurance commissioner on Friday turned down a request by State Farm General for an emergency 22% hike of its home insurance rates due to the Los Angeles wildfires, saying the company ...
The lead plaintiff, Joan St. Julian, claims that State Farm violated the law by failing to pay sales tax to drivers when reimbursing them for the "actual cash value" of their cars that were deemed total losses. [73] According to the lawsuit, State Farm systematically underpaid claims made by thousands of consumers who experienced total vehicle ...
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 ...
Other state courts began to follow California's lead and held that a tort claim exists for policyholders that can establish bad faith on the part of insurance carriers. By 2012, at least 46 states had recognized third-party bad faith as an independent tort, [ 14 ] and at least 31 states had recognized first-party bad faith as an independent ...
The California Department of Consumer Affairs (DCA) is a department within the California Business, Consumer Services, and Housing Agency. DCA's stated mission is to serve the interests of California's consumers by ensuring a standard of professionalism in key industries and promoting informed consumer practices.