Allstate’s chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier’s largest mutual competitor—State Farm—to move in the same direction. Speaking at the Goldman Sachs 2022 U.S. Financial …
Collision repair shop owner Steve Piispanen didn’t hire an attorney because he considers them to be “not educated” when it comes to insurance law. He represented himself when he appealed a local judge’s decision to dismiss a $1,093.37 claim against …
Bonds sold to help US utilities recoup losses from natural disasters are seeing an unprecedented boom, with the latest burst of issuance generated by the deadly February 2021 storm that paralyzed Texas as it struck a large swath of the …
Auto and property insurers in the last three months have settled class-action lawsuits in Southern states alleging the carriers systematically underpaid claims. A federal appeals court in Georgia has decided a similar issue in favor of the insurer, noting that …
Mississippi has quietly settled its lawsuit against State Farm Fire and Casualty Co. for allegedly minimizing its Hurricane Katrina payments to policyholders, leaving the state to compensate homeowners. The settlement says the $12 million payment represents “restitution for damage, which …
State Farm and ADT, a smart home provider, announced that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation’s largest insurer a 15% ownership stake in ADT. The investment also heralds …
With an overall combined ratio in excess of 100 for the first time since 2017, private passenger auto joined homeowners in unprofitable territory last year, prompting carriers to respond with pricing and underwriting actions. But improvement in the auto line …
When Warren Buffett told Berkshire Hathaway investors that State Farm continues to dominate the large auto insurance carrier landscape during this year’s annual meeting, he was referring to scale rather than customer satisfaction scores. But State Farm wins on that …
An insured claiming his auto insurer’s delay in approving treatment caused his injuries to worsen is entitled to prove his breach of contract claim despite New Jersey’s no-fault law. That law governing personal injury protection benefits provides an exclusive remedy …
After an uproar from conservative groups, State Farm Insurance has dropped its support of a group that said it was battling misinformed opinions on transgender youth. “We support organizations that provide resources for parents to have conversations about gender and …
