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State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. ... It received $400 million back to cover claims, recovering a little less than 20% of what it paid ...
In the wake of the wildfires, State Farm General noted that they had already received more than 8,700 claims as of Feb. 1 – paying out more than $1 billion, with the company noting that they ...
In February 2025, State Farm, the largest home insurer in California, requested state regulators to approve an emergency rate increase due to the financial strain caused by payouts related to the January 2025 Southern California wildfires. The company is seeking an average rate hike of 22%, effective May 1, 2025.
The suit was filed under California's Private Attorney General Act by four senior commercial claims representatives who claim that Farmers improperly classified them as exempt from overtime pay when they were often required greater than the standard 8 hours a day and thus sometimes more than 40 hours per week. [37]
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 Mutual Automobile Insurance Co. v. Dept. of Transportation, 680 F.2d 206 (D.C. Cir. 1982); cert. granted, 459 U.S. 987 (1982). Holding; The standard of review for rescinding notice and comment rules is the same as that for enacting rules.
Over a nine-year period ending 2024, State Farm said it would pay $1.26 in claims and expenses for every $1.00 collected in premium, resulting in more than $5 billion in cumulative underwriting ...
State Farm Fire and Casualty Company is an insurance company. [3] Prior to 2005, State Farm offered two types [fn 1] of insurance policies to homeowners: flood insurance, which would be reimbursed by the federal government's National Flood Insurance Program, and general homeowner insurance, which would be paid directly by State Farm. [3]