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 1, 2004 |
State Farm Mutual Automobile Insurance Co., the biggest U.S. auto insurer, will cut auto rates in California by 7.6%, shaving more than $215 million off of 3 million customers' bills, the company said. The rate reduction will go into effect Oct. 1, said the company, which is owned by its policyholders and based in Bloomington, Ill. State Farm has reduced rates in 34 states this year, a spokesman said, as competition increased and the frequency of accidents declined.
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.
June 21, 2002 |
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.
May 18, 2002 |
State Farm, the nation's largest insurance company, was stripped of is triple-A rating for credit and financial strength by Standard & Poor's because of record losses last year--an action that may increase pressure on the company to further raise auto and homeowner premiums to boost its sagging finances. State Farm already has filed to hike rates in California by about 5% on auto insurance and 6.7% on homeowner coverage, a company spokesman said.
November 29, 2000 |
State Farm Insurance Cos., the largest auto insurer in California and the nation, unveiled a controversial plan Tuesday to lower insurance premiums for drivers of some of the biggest vehicles on the road while boosting rates for smaller, cheaper cars. The pricing plan, likely to be followed by other insurers, could raise or lower the medical portion of some drivers' insurance premiums by at most $50 a year.