Florida Insurance Commissioner Kevin McCarty has approved a statewide average 18.8 percent rate increase in State Farm’s homeowners’ policies, which is roughly 10 percent below the 27.9 percent it initially requested. The new rates will apply to new policies effective …
U.S. District Judge L.T. Senter Jr., who presided over hundreds of Hurricane Katrina insurance cases, is retiring Friday. The Sun Herald reported that Senter and his staff have spent the week packing up his offices on the fifth floor of …
Louisiana insurance regulators have rejected a rate increase from the state’s largest insurer of homes. State Farm Fire and Casualty Co. wanted an average 14.3 percent rate hike for its 301,000 customers who get homeowners and condominium coverage, as well …
State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also explained that the “P-C companies reported a $3.1 …
Citing sinkhole losses and higher operating expenses, State Farm Florida asked state regulators this week for a 28 percent premium increase on its homeowners policies. Sinkhole claims, which are approaching $2 billion over the past five years in Florida, have …
A Texas judge who’s a State Farm Insurance customer has withdrawn from hearing the company’s fight against paying $350 million in alleged overcharges. The case has been reassigned to Judge Rhonda Hurley. No new hearing date has been set in …
State Farm of Florida is requesting a statewide average 27.7 percent homeowners insurance rate increase citing the rising costs of sinkhole claims. The request comes as Florida lawmakers are trying to broker a deal over how to address the rise …
