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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 ...
California Insurance Crisis: List Of Carriers That Have Fled Or Reduced Coverage In The State. The insurer is looking to increase rates by 22% for non-tenant homeowners, 15% for renters and condo ...
If approved, rates would change on May 1. “Insurance will cost more for customers in California going forward because the risk is greater in California,” State Farm said, adding that they ...
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 ...
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 insurance regulator will investigate these rate-increase applications, a spokesperson told Reuters in an email. State Farm insures 250,000 homes and 880,000 automobiles in Los Angeles County ...
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 Personal Insurance Federation of California, which represents large companies, including State Farm, Allstate and Farmers Insurance, expressed support for the proposal. The plan is “an ...