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California isn’t the only state facing pressure on its “last resort” insurance plan. Florida covers nearly 1 million households on its Citizens Plan, making it the largest property insurer ...
State Farm, California’s largest insurance provider, is asking for a 22 percent interim rate hike for California homeowners just week after the deadly Los Angeles wildfires (Getty Images)
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.
State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits.
The hikes would come from a potential assessment likely to be levied by California FAIR, the program set up by the state as the insurer of last resort for homeowners whose fire insurance has been ...
State Farm, the state's largest home insurer, announced in March it would not renew 72,000 property insurance policies, while Chubb and its subsidiaries stopped writing new high-value homes with ...
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 ...
As the Palisades and Eaton fires wreak havoc on Los Angeles, the state insurance commissioner is taking action to protect home insurance policy owners California bars insurers from dropping fire ...