State Farm’s announcement last week that the carrier was no longer writing new personal or business property/casualty policies in California “reflects the poor underwriting experience for California homeowners’ writers,” a ratings agency said on Wednesday. Fitch Ratings issued a statement …
An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and higher construction costs. The American Property …
Insurers paid out more than $1 billion in dog-related injury claims in 2022, a 28% increase over 2021 even though the number of claims decreased last year, according to the Insurance Information Institute (Triple-I) and State Farm. There were 17,597 …
The Texas market for auto and homeowners insurance grew double digits in 2022, according to an annual report put out by the Texas Department of Insurance. Texas insurers reported direct premium written for private passenger auto of $26.3 billion in …
An Edmonds, Washington, woman pled guilty to committing insurance fraud after an investigation completed by Insurance Commissioner Mike Kreidler’s Criminal Investigations Unit. Eden Gebru pled guilty to the charge of false claims or proof on Feb. 23 in King County …
Late last year, State Farm’s chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a huge number attached: $13 billion. “We …
Tesla Inc.’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles …
Allstate buying office space in downtown Chicago, State Farm suing Tesla over a car fire, and Geico being ordered to settle with a woman who contracted an STD in an insured’s car were some of the most-read stories in Insurance …
State Farm’s claims handling process is the subject of a new lawsuit alleging disparities between the insurer’s treatment of claims from Black policyholders versus claims from white policyholders. The suit filed Dec. 14 against State Farm Fire & Casualty Company …
State Farm CEO Michael Tipsord said the nation’s top property/casualty insurer will likely never be the same following the pandemic – and that may be a good thing. “I don’t think we’ll ever go back to March 11,” said Tipsord, …
