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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]
And I have insurance with State Farm — which is a strong insurance company.” Read more: Generating 'passive income' through real estate is the biggest myth in investing — here’s how you ...
The lead plaintiff, Joan St. Julian, claims that State Farm violated the law by failing to pay sales tax to drivers when reimbursing them for the "actual cash value" of their cars that were deemed total losses. [69] According to the lawsuit, State Farm systematically underpaid claims made by thousands of consumers who experienced total vehicle ...
In Federal Count a jury found for the Rigsby sisters in their whistle-blower lawsuit against State Farm. The plaintiffs suggested that State Farm minimized its wind damage payout to $30,000 when the policy provided for up to $500,000 by charging the National Flood Insurance Program where payments were paid by the government. FEMA’s Executive ...
State Farm is the subject of a class-action lawsuit filed last week in Illinois federal court following accusations the insurance The post Lawsuit filed against State Farm says insurance company ...
Insurers including State Farm, which dropped nearly 70% of policyholders in Pacific Palisades in July 2024, refused to offer new insurance plans or renew old ones.
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".
The increase in claims being filed—along with the fact that the company relies less than other carriers on reinsurance, which is basically insurance for insurance—puts the company at risk.