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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 1999, the company acquired Texas-domiciled National Specialty Insurance Company (NSIC), an insurance company then licensed to write business in 21 states, and later expanded its licensing to 50 states and D.C. In 2006, the company formed Delaware-domiciled United Specialty Insurance Company (USIC) to write coverage on an excess and surplus ...
NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization. The NAIC acts as a forum for the creation of model laws and regulations. Each state decides whether to pass each NAIC model law or ...
State Farm said in March it would not renew roughly 30,000 homeowners, owners of rental dwellings and other property insurance policies. It also said it would stop offering commercial polices to ...
State Farm ranks as sixth out of 19 insurance companies in the study, with a score of 892/1,000. As for its rating for home insurance, State Farm ranks fourth in J.D. Power's homeowners insurance ...
State Farm ran a 60-second spot in last year's game that starred Arnold Schwarzenegger and Danny DeVito. The ad won USA TODAY's annual Super Bowl Ad Meter , a tool used to measure public opinion ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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