State Farm News
Regulatory Weaknesses, Politics Driving California Exits, Industry CEOs Say
A trio of property/casualty carrier executives voluntarily offered their views on a growing insurance availability crisis in the state of California at an industry conference in late June, pointing ...Climate Change and Homeowners Insurance Are on a Collision Course
A summer that already has seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of ...
California, Other States Rattled by Insurance Carrier Withdrawals
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 ...Homeowners Insurer Retreat Signals Climate, Regulatory and Economic Challenges: Fitch Ratings
The recent retreat of large homeowners insurance carriers, like Allstate and State Farm, from the California property insurance market signals ongoing regulatory constraints, rising cost inflation ...We’re Done: State Farm Decides to Stop Taking New Calif. Homeowners Biz
The nation's biggest insurer, State Farm, announced late last week that its homeowners provider to the nation's most populous state will no longer accept new applications there. State Farm General ...Dog-Related Injuries Cost Insurers More Than $1 Billion in 2022
Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28 percent increase over 2021 even though the number of claims decreased last year, ...
Is a Scooter a Vehicle? Appeals Court Says ‘Yes’ and State Farm Must Pay UM Claim
State Farm must pay an uninsured motorist claim for injuries caused by an electric motor scooter even though the scooter didn't match the definition of "motor vehicle" in ...
Top CM 2023 News Story: State Farm P/C Businesses Report $13B Underwriting Loss in 2022
Late last year, State Farm's chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a ...Lawsuit Against State Farm Alleges Racial Discrimination in Claims Handling
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 ...