State Farm News
Outlook on State Farm A++ Rating Now Negative: AM Best
AM Best revised the outlooks of the A++ financial strength rating and aa+ long-term issuer credit ratings of State Farm Mutual Automobile Insurance Company (State Farm Mutual) and two affiliates, the ...
State Farm Seeking $1.5M From Owners of Collapsed NYC Garage
The collapse of a New York City garage in April was caused by the negligence of the owners of the building, according to their insurer, State Farm, which is suing them to recover $1.5 million in ...
Farmers Limits New California HO Policies; Insurer Group Calls for Reform
Farmers will limit new homeowners insurance policies in California, according to a statement issued by the carrier. The move follows a similar decision by State Farm last month and adds to a growing ...
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, ...