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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.
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.
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
October 31, 2003 | E. Scott Reckard, Times Staff Writer
Insurers and the analysts who follow them said Thursday that the industry appears well able to absorb the costs of the wildfires sweeping Southern California, even though the insured loss may well exceed the record $1.7 billion in claims when the scenic hills above Oakland and Berkeley went up in flames Oct. 20, 1991. "Catastrophes are priced into insurance premiums," said Bill Sirola, a spokesman for State Farm General Insurance Co.
BUSINESS
September 24, 2003 | Kenneth Reich, Times Staff Writer
State Farm General Insurance Co., the largest provider of homeowners insurance in California, will end a 17-month moratorium on selling to new customers Oct. 1, a company spokesman said Tuesday. But its return to the market will be limited, spokesman Bill Sirola said. State Farm will add new homeowners in an amount equal to the number of existing customers who drop out or whose polices are not renewed by the company, probably about 60,000 in the next year, he said.
BUSINESS
September 6, 2006 | Marc Lifsher, Times Staff Writer
California's largest homeowner's insurer, State Farm General Insurance Co., plans today to announce premium cuts of about 11% for 1.2 million of its policyholders. Annual premiums are expected to drop an average of $103 beginning at year end, the company said. State Farm, a part of Bloomington, Ill.-based State Farm Group, is the third and by far the largest California homeowner's insurer to ask for rate cuts in the last two months.
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