Search results
Results from the WOW.Com Content Network
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 ...
"State Farm General’s rate filings raise serious questions about its financial condition," said Gabriel Sanchez, press secretary for the California Department of Insurance, in an email to USA TODAY.
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 ...
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.
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 ...
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 2023, State Farm raised rates by an average of 20% for existing customers and said it would no longer accept new homeowners’ insurance applications in California.
State Farm Mutual Automobile Insurance Co. v. Campbell, 538 U.S. 408 (2003), was a case in which the United States Supreme Court held that the due process clause usually limits punitive damage awards to less than ten times the size of the compensatory damages awarded and that punitive damage awards of four times the compensatory damage award is "close to the line of constitutional impropriety".