State Farm accused of funneling excess profits to parent as it …
Oct 28, 2024 · State Farm General, California’s largest home insurer, is being accused of boosting the profits of its parent company at the expense of state policyholders — while …
State Farm’s finances were a worry even before L.A. fires. Here’s …
State Farm General rejected the allegations, writing in a statement that it purchases some of its reinsurance from its parent company due to a lack of other reinsurers willing to take on the risk ...
State Farm to offer renewals to all L.A. County policyholders …
Jan 15, 2025 · State Farm, California's largest home insurer, ... he had been the managing editor of the Los Angeles Business Journal and was a reporter for the Los Angeles Daily News and …
State Farm Sets Another Record With $14B Underwriting Loss in …
Mar 1, 2024 · A year after recording the largest underwriting loss in the company’s 100-year history, State Farm eclipsed it in 2023. The underwriting loss figure climbed to $14 billion for …
Thousands of Los Angeles homeowners were dropped by their ... - CBS News
6 days ago · An analysis of insurance data by CBS News San Francisco last year found that State Farm also dropped more than 2,000 policies in two other Los Angeles ZIP codes, which …
State Farm® Announces 2023 Financial Results
Feb 29, 2024 · State Farm reported a net loss of $6.3 billion in 2023 compared to a net loss of $6.7 billion in 2022. The State Farm insurance operations consist of fourteen P-C companies …
Can California Fire Victims Sue State Farm for Dropping Coverage ...
Jan 12, 2025 · State Farm CEO Denies Hardin wrote in a March 2024 letter to California Insurance Commissioner Ricardo Lara that the insurer's strained finances forced their hand in …
State Farm Faces Setback as Class Action Lawsuit ... - Live Insurance News
Aug 26, 2024 · In a significant legal development, U.S. District Judge Virginia Kendall has denied State Farm’s motion to dismiss a class action lawsuit, allowing the case to proceed in the U.S. …
State Farm discontinuing 72,000 home policies in California in …
Mar 22, 2024 · SACRAMENTO, Calif. (AP) — State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, …
State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: …
Sep 25, 2024 · State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to …