Roughly a week after State Farm announced that it would nonrenew tens of thousands of homeowners and commercial apartment policies in California, AM Best has downgraded the company that offered those policies. Last week, State Farm cited its responsibility to …
Louisiana Insurance Commissioner Tim Temple pointed to State Farm’s decision to non-renew policies in the California market as a warning for lawmakers to modernize Louisiana’s regulatory framework and address legal system abuse – or risk insurers leaving the catastrophe-prone state. …
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 2023, with a nearly $5 billion underwriting loss for property lines outpacing …
An insurer that reached a settlement with a motorist who caused a crash cannot deny a underinsured motorist claim on the basis that its policyholder failed to comply with the terms of her auto policy by not filing a subrogation …
The collapse of a New York City garage in April was caused by the negligence of the owners of the building, according to State Farm, which is suing them to recover $1.5 million in payments to the garage’s customers who …
A Georgia woman who was employed by State Farm Automobile Insurance Co. for 20 years is suing the insurer alleging she was discriminated and retaliated against because of her bladder disability. The employee, Elisa Brown, was diagnosed with overactive bladder …
LOS ANGELES (AP) — Two insurance industry giants have pulled back from California’s home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new policies in the nation’s most populous state. State …
An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …
Social media influencers and an insurance industry think tank are giving Hyundai and Kia vehicles the worst kind of publicity: Many of the cars the company sold are easy to steal. In the past week, newspapers and television news producers …
State Farm’s claims handling process is the subject of a new lawsuit alleging disparities between the insurer’s treatment of claims from Black policyholders versus claims from white policyholders. The suit filed Dec. 14 against State Farm Fire & Casualty Company …