September 6, 2006 |
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.
May 28, 2006 |
An Oklahoma couple was awarded nearly $13 million in a class-action lawsuit after a jury in Grady County, Okla., ruled that State Farm Fire & Casualty Co. intentionally underpaid claims from families whose homes were damaged by tornadoes seven years ago. Donald and Bridget Watkins were among 71 policyholders who sued the company. Their attorney said the jury award suggests that the entire class of plaintiffs deserves nearly $280 million in punitive damages.
February 27, 2005 |
The Foundation for Taxpayer & Consumer Rights is challenging State Farm's proposed $4-million rate hike for mobile home coverage. In its Tuesday filing with the California Department of Insurance, the nonprofit consumer group asked Insurance Commissioner John Garamendi to hold a public hearing on the proposed 21.3% increase. The group said State Farm raised rates on this line of insurance 47.7% in 2002 and 22.3% in 2001.
September 24, 2003 |
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.
February 27, 2003 |
With the United States on the brink of war in Iraq and North Korea test-firing missiles, State Farm Insurance Cos. is issuing a timely, if chilling, notice to customers: It won't cover auto damage caused by nuclear blasts or radioactive fallout. "No insurance company could withstand the financial impact of insuring a nuclear accident," Bill Sirola, a spokesman for the nation's largest automobile insurer, said Wednesday.
October 3, 2002 |
State Farm Insurance Cos. has been ordered to stop marketing and selling long-term care policies in California, in what the state Department of Insurance said is a violation of state law that could bring a $500,000 fine. State Farm Mutual Automobile Insurance Co. continued selling the policies after Oct. 1, 2001, when a new law barred such policies unless they provided enhanced benefits, the department said.