State Farm Was All In on California—Until It Pulled the Plug Before the Fires
The insurer aggressively grew in Los Angeles, despite getting overweight on fire risk, but decided to cut thousands of ...
California’s High-Risk Insurer Gets $1 Billion Bailout After L.A. Fires
The move will likely lead to higher costs for households across the state, and may push more insurers to leave, intensifying ...
California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.
The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on ...
State Farm asks California to approve rate hikes after wildfires
State Farm is asking California's insurance regulator to approve an emergency rate hike due to the number of claims it ...
State Farm asks for insurance rate hike of 22 percent after L.A. fires
State Farm wrote in a letter on Monday that the recent fires in Los Angeles threaten its finances and are “the costliest in ...
Bloomberg on MSN8d
State Farm Seeks Emergency California Rate Hike After Fires
State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns ...
California FAIR Plan gets $1 billion assessment to head off insolvency
It means California property owners will likely be billed from their private insurers to help compensate the FAIR Plan.
State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, ...
State Farm asks for 22% home insurance rate hike in California following LA wildfires: ‘Risk is greater’
State Farm asked California on Monday if it could hike home insurance rates in the state by an average of 22% to address what it has claimed was a potentially “dire situation” related ...
NBC Los Angeles on MSN8d
State Farm seeks 22% home insurance rate hike after California wildfires
As wildfire victims struggle to recover, California’s largest home insurer faces backlash over proposed rate increases.
LA wildfires: State Farm seeks emergency rate hikes in California
State Farm, California's largest insurance provider, has requested the state's insurance agency for emergency approval of ...
East Bay Times8d
State Farm seeks 22% rate hike for California homeowners to cover Los Angeles wildfire losses
Citing growing wildfire risks due to climate change and rising rebuilding costs, among other factors, State Farm has stopped ...