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BUSINESS
April 26, 1995 | Times Staff and Wire Reports
State Farm Units Downgraded: Ratings firm A.M. Best Co. has cut its grade on two State Farm Mutual Automobile Insurance Co. subsidiaries because of high exposure to losses. State Farm Fire & Casualty Insurance Co. and State Farm General Insurance Co. were downgraded from A++, the highest ranking, to A+. Lower ratings can hurt an insurer's ability to sell policies. A.M. Best affirmed the A++ rating on parent company State Farm Mutual Automobile of Bloomington, Ill., the largest U.S.
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BUSINESS
April 26, 1995 | Times Staff and Wire Reports
State Farm Units Downgraded: Ratings firm A.M. Best Co. has cut its grade on two State Farm Mutual Automobile Insurance Co. subsidiaries because of high exposure to losses. State Farm Fire & Casualty Insurance Co. and State Farm General Insurance Co. were downgraded from A++, the highest ranking, to A+. Lower ratings can hurt an insurer's ability to sell policies. A.M. Best affirmed the A++ rating on parent company State Farm Mutual Automobile of Bloomington, Ill., the largest U.S.
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BUSINESS
July 9, 1997 | (Bloomberg News)
Allstate Insurance Co., State Farm Fire & Casualty Co., State Farm General Insurance Co., Grange Mutual Casualty Co. and Republic Insurance Co. have been sued over the way they handled insurance for homes for people with disabilities. The lawsuit, filed in federal court in Washington, accuses the companies of denying insurance or refusing to offer standard insurance to landlords who rent to persons with disabilities.
REAL ESTATE
January 13, 2002 | From Inman News Features
The State Farm affiliate providing homeowners insurance in California has announced an average statewide rate increase of 6.9% for its policyholders. Woodland Hills-based State Farm General Insurance Co.'s new rates have been approved by the California Department of Insurance and will take effect Feb. 9 for new customers. Existing State Farm customers in California will face these increases when their policy comes up for renewal.
BUSINESS
January 31, 2002 | Liz Pulliam Weston
A leading rating agency downgraded State Farm's California operations this week because of significant losses in the insurer's homeowner business. A.M. Best cut its financial strength rating on State Farm General Insurance Co., a subsidiary of State Farm Mutual Automobile Insurance Co., from A-minus, or "excellent," to B-plus, or "very good."
BUSINESS
June 21, 2002 | From Times Staff and Wire Reports
Two months after slapping a moratorium on new homeowner business in California, loss-plagued State Farm Insurance Cos. said Thursday that it is limiting homeowner policies in 21 other states.
CALIFORNIA | LOCAL
January 8, 2011
NEW MEMBERS Carl Cohn: Co-director of the Urban Leadership Program at Claremont Graduate University; previously superintendent in San Diego and Long Beach. Louis "Bill" Honig: President of the Consortium on Reading Excellence; state superintendent of public instruction from 1983 to 1993, resigned after being convicted of conflict-of-interest charges; served on the state Board of Education from 1975 to 1983. Michael Kirst: Professor emeritus at Stanford University, where he has taught since 1969; served on the state Board of Education from 1975 to 1982.
BUSINESS
February 7, 2013 | By Marc Lifsher
Thousands of Los Angeles homeowners covered by State Farm General Insurance Co. will see their annual premiums drop an average of $102, or 12.3%, beginning April 15. The reduction is part of a statewide markdown that will benefit 85% of State Farm's 1.6 million homeowner customers in California, the company said. The lower prices are expected to be announced at a 10:30 a.m. news conference in Los Angeles held by state Insurance Commissioner Dave Jones and State Farm Chief Executive Tom Conley.
BUSINESS
September 22, 1994 | STUART SILVERSTEIN and PATRICK LEE, TIMES STAFF WRITERS
Southern California Edison, for months the target of slow-moving federal investigations into alleged racial bias, on Wednesday was hit with a big new headache: a class-action discrimination suit crafted by one of the nation's most celebrated plaintiffs' law firms. The suit, filed in federal court in Los Angeles by nine African American Edison employees, is being handled by the Oakland law firm of Saperstein, Mayeda & Goldstein.
BUSINESS
February 20, 2002 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
Steep losses in homeowners insurance led a major rating company to downgrade Farmers Insurance Group on Tuesday and signaled more rate hikes ahead for policyholders nationwide. Standard & Poor's cut Farmers' credit and financial strength ratings by two notches, to A from AA-, after two years of rising claims costs eroded the Los Angeles-based insurer's capital reserves, said S&P analyst Grace Osborne. The action was the second time this year that a major insurer faced a downgrade. Last month, A.
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