Latest State Farm Headlines
All the headlines from our State Farm Topic Page, ordered by recency.
Winners of IMCA Showcase Awards Named
Jul 10 2009 // State Farm received the top honor and Liberty Mutual received the most Best of Show awards at the Insurance Marketing and Communications Association (IMCA) 2009 Showcase Awards, held during the IMCA Annual Meeting on June...
Florida’s New Insurers Won’t Pick Up State Farm Slack, McCarty Says
Jul 6 2009 // Florida Insurance Commissioner Kevin McCarty said the 54 property insurers backed by nearly $5 billion in capital that have been admitted to the state since 2006 can’t be expected to absorb all of the policies left...
Florida Gov. Crist Vetoes ‘State Farm’ Insurance Rate Deregulation Bill
Jun 24 2009 // Siding with domestic insurers, consumer groups and the state insurance regulator, Florida Gov. Charlie Crist today vetoed a bill designed to keep State Farm from leaving and attract other large insurers to the state by...
State Farm Says It Will Reconsider Florida Exit If Rates Deregulated
Jun 22 2009 // Florida’s biggest private insurer of property, State Farm Florida, has told Gov. Charlie Crist it would “be willing to re-examine its options” and its decision to leave the state’s home insurance...
A.M. Best Downgrades State Farm Florida; Outlook Negative
Jun 18 2009 // A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to “bb” from “bbb-” of State Farm Florida Insurance Co. The rating agency’s...
State Farm Could Owe $0 to $1 Billion to Texas Consumers
Jun 16 2009 // The years-long struggle between the State of Texas and State Farm Insurance Company over homeowners insurance overcharges may be coming to a close soon, as Texas Insurance Commissioner Mike Geesling is expected to rule on...
Florida’s Crist Caught Between Dueling Officials on Insurance Deregulation
Jun 5 2009 // If Florida Gov. Charlie Crist vetoes a bill designed to deregulate pricing for large national property insurers as appears likely, he will be siding with an appointed official over an influential lawmaker. Crist, who is...
Insurer Can’t Deny Property Coverage Because of Nearby Excavation
Jun 2 2009 // An insurer can’t cite the commonly used earth movement exclusion to deny coverage to an insured whose property was damaged by excavation to a neighboring lot, a New York Appeals Court has ruled. The case pitted the...
Miss. Attorney General Hood Keeps State Farm Deal Secret
Jun 1 2009 // Mississippi Attorney General Jim Hood has asked a court to block renewed efforts to make public a settlement agreement between his office and insurer State Farm Fire & Casualty Co. that was part of their feud over...
Business Moves
Jun 1 2009 // AIG American International Group agreed to sell its prime real estate holding in Tokyo for approximately $1.2 billion in cash to Nippon Life Insurance Co. The property consists of one acre of land on which The AIG Otemachi...
Merry Crist Mess
May 18 2009 // Not all deregulation measures are good; some are a mixed blessing. Consider HB 1171 that passed the Florida House and Senate and was sent to Gov. Charlie Crist, a regular critic of the industry who was reportedly hesitant...
Florida Governor to State Farm: On Your Way Out, Here’s an Award
May 15 2009 // The man who is letting insurance giant State Farm exit the state, which some fear will foster a property insurance disaster in Florida, gave the insurer an award this week for innovation and disaster mitigation. State Farm...
State Farm to Cut California Auto Insurance Rates
May 14 2009 // State Farm’s 3.3 million California auto insurance policyholders will soon see a decrease in their premiums, as the California Department of Insurance approved an 8 percent, $219 million rate cut. The 8 percent rate...
Florida Officials, State Farm Expect to Resolve Withdrawal Terms By June 15
May 13 2009 // Representatives of Florida insurance regulators and State Farm Florida believe they will be able to resolve their differences over how the insurer may exit the state’s insurance marketplace by June 15. Lawyers for...
State Farm Expects $10M-plus Loss From Oklahoma Fires
Apr 15 2009 // Oklahoma’s largest insurer expects to see more than $10 million in home and automobile damage claims from recent wildfires. State Farm Insurance spokesman John Wiscaver said the company is working on more than 1,000...
Charges Dropped Against Firm Accused of Hail Scam in Indiana
Apr 6 2009 // Prosecutors in Indianapolis, Ind., have dropped insurance fraud charges against a Florida-based repair company accused of faking hail damage to drum up business after a 2006 storm. Instead, CPM Construction President...
Florida Denies State Farm Hearing on Homeowners Market Withdrawal Plan
Apr 6 2009 // Florida Insurance Commissioner Kevin McCarty has denied State Farm Florida an administrative hearing on details of the insurer’s plan to withdraw from the state’s homeowners market. State Farm Florida has...
Florida Denies State Farm Hearing on Withdrawal Plan
Mar 30 2009 // Florida Insurance Commissioner Kevin McCarty has denied State Farm Florida an administrative hearing on details of the insurer’s plan to withdraw from the state’s homeowners market. State Farm Florida has...
Business Moves
Mar 23 2009 // State Farm Fire and Casualty Co. Nevada Insurance Commissioner Scott J. Kipper has approved a rate change for homeowners insurance premiums as filed by State Farm Fire and Casualty Co. The rate change will become effective...
State Farm Balks at Florida Withdrawal Conditions
Mar 23 2009 // State Farm Florida has appealed stipulations that Insurance Commissioner Kevin McCarty has put on its plan to withdraw from the state’s property insurance market. Florida’s second largest insurer of homes and...
