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BUSINESS
August 16, 1996 | From Associated Press
State Farm Insurance Co., California's biggest auto insurer, intends to cut drivers' rates by 5.4%, an action that will pressure competitors to continue a downward price trend. The news Thursday means $133.8 million in premium savings for State Farm customers in California.
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NATIONAL
July 7, 2007 | From the Associated Press
Two Mississippi attorneys who won a punitive damages verdict against State Farm Fire & Casualty Co. over destruction from Hurricane Katrina said Friday that they had settled other pending cases. Biloxi attorney Jack Denton said he and attorney William C. Walker Jr. settled 20 State Farm cases Friday. Two of the lawsuits were scheduled for trial this month in federal court. Terms of the settlements are confidential. "We finally got a little relief," Denton told the Sun Herald newspaper.
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NEWS
April 29, 1992 | PHILIP HAGER, TIMES LEGAL AFFAIRS WRITER
In the largest civil rights case settlement in history, State Farm Insurance Co. said Tuesday that it will pay $157 million to 814 California women who had brought suit contending they were denied jobs as sales agents because of their sex. The settlement, which is the climax of a 13-year legal battle, comes in addition to $36 million already recovered from the company in individual trials and agreements.
BUSINESS
January 27, 2007 | From the Associated Press
A federal judge in Mississippi refused to endorse part of a proposed settlement that calls for insurance payments to thousands of his state's policyholders whose homes were destroyed or damaged by Hurricane Katrina. U.S. District Judge L.T. Senter Jr. would not sign off on a deal between Bloomington, Ill.-based State Farm Fire & Casualty Co. and Mississippi Atty. Gen. Jim Hood for at least $50 million in payments to policyholders whose claims were denied but didn't sue the company.
CALIFORNIA | LOCAL
June 12, 1998 | SOLOMON MOORE, TIMES STAFF WRITER
Thousands of State Farm Insurance Co. policyholders allegedly misled by the insurance giant would have a difficult time successfully suing despite a $100-million secret settlement involving 117 families whose earthquake coverage was unfairly reduced before the 1994 Northridge earthquake, plaintiffs' lawyers said Thursday. There may be 25,000 other policyholders whose insurance coverage was similarly reduced, lawyers said.
CALIFORNIA | LOCAL
June 12, 1998 | SOLOMON MOORE, TIMES STAFF WRITER
Thousands of State Farm Insurance Co. policyholders allegedly misled by the insurance giant would have a difficult time successfully suing despite a $100-million secret settlement involving 117 families whose earthquake coverage was unfairly reduced before the 1994 Northridge temblor, plaintiffs' lawyers said Thursday. There may be 25,000 other policyholders whose insurance coverage was similarly reduced, lawyers said.
BUSINESS
February 9, 1994 | From Times Staff and Wire Reports
State Farm's Quake Damage Estimate is $600 Million: The company, by far California's largest seller of earthquake insurance, estimated that its losses in the Northridge quake will be at least that amount, making it the second-worst disaster in the company's history. Bloomington, Ill.-based State Farm Insurance Co. paid out $3.6 billion in claims from Hurricane Andrew in 1989. More than 80,000 claims are expected to be field in connection with the Jan. 17 earthquake, the company said.
BUSINESS
February 2, 1994 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Insurance Commissioner John Garamendi issued an emergency directive Tuesday barring insurers from canceling or refusing to renew any insurance policies in the earthquake-affected area for 60 days after the Jan. 17 quake. Garamendi also announced that State Farm Insurance Co.
CALIFORNIA | LOCAL
September 18, 1987
About 100 homeowners from Orange and Los Angeles counties said they will picket the State Farm Insurance Co. regional office in Costa Mesa next week to protest the insurance firm's refusal to pay claims of up to $100,000 for damages resulting from deteriorating foundation slabs.
REAL ESTATE
March 8, 1992 | R. J. B., Special to The Times
Eric bought his home in 1976 and State Farm Insurance Co. has insured it since then. In 1983 Eric noticed cracking of the home's interior and exterior walls, patio and front steps. A year later State Farm paid Eric $14,075 for physical damage to the house. But Eric demanded the full $231,000 policy limit. He argued the damage is being caused by poor drainage in the subdivision, which lacks city sewers and storm drains.
BUSINESS
January 4, 2007 | Ashley Surdin, Times Staff Writer
State Farm, California's largest home and auto insurer, on Wednesday proposed a 20% rate reduction for its residential customers in the state amid a drive by outgoing Insurance Commissioner John Garamendi to press insurers into using strong industry profits to lower fees. The rate decrease for State Farm's 1.4 million home insurance customers was nearly double the premium cut that the company had requested in September. The company also filed for a 10.
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.
NATIONAL
May 28, 2006 | From Times Wire Reports
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.
REAL ESTATE
February 27, 2005 | From Times wire reports
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.
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
February 27, 2003 | Kathy M. Kristof, Times Staff Writer
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.
CALIFORNIA | LOCAL
August 28, 1996 | DAVID E. BRADY
Sure, the site isn't much to look at now, just a sloping patch of wildflowers and weeds in the foothills of the Santa Susana Mountains. In the near future, however, it will become the state-of-the-art home of the North Valley Family YMCA. On Tuesday, the project took another step forward with a $50,000 donation from State Farm Insurance Co.
BUSINESS
October 3, 2002 | Associated Press
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.
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