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, and the fires will be the costliest in the history of State Farm, the company said.
State Farm seeks rate hikes in California to offset wildfire payouts
California's largest private insurer, State Farm, on Monday urged the state's insurance regulator to approve an emergency hike in rates to help offset the hefty payouts the company is making after devastating wildfires in Los Angeles last month.
Citing what it calls a potentially “dire situation,” State Farm asked California for permission to hike insurance rates by an ...
State Farm’s move comes as California’s insurance sector faces an unprecedented crisis. Last year, the company opted not to ...
State Farm has treated some water claims as if they were the result of ongoing issues, even when homeowners report them as ...
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