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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 ...
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 primary reason for the 6.5 million (24%) increase in uninsured from 2016 to 2029 is the repeal of the ACA individual mandate to have health insurance, enacted as part of the Trump tax cuts, with people not obtaining comprehensive insurance in the absence of a mandate or due to higher insurance costs.
The Affordable Care Act (ACA) established the health insurance rate review program in order to protect consumers from unreasonable rate increases. [1] Through this program, proposed premium increases in the small group and individual markets that are above a threshold amount (ten percent or more, as of February 2014) are reviewed by states or the federal government to determine whether the ...
The lower a family's income is, the less likely that they can purchase health insurance, according to 2008 US Census figures. About 14.5% of households with $50,000 to $75,000 in income did not have health insurance. While 24.5% of households with $25,000 or less income went without health insurance. [8]
A State Farm insurance company sign sits amid the rubble of a building destroyed by the Palisades Fire on Sunset Boulevard in the Pacific Palisades neighborhood of Los Angeles on January 16, 2025.
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.
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