Farmers Insurance – Page 2 – California Globe

State Farm Announces Non-Renewal Of 72,000 Insurance Policies In California

March 22, 2024 2:45 amMarch 22, 2024 2:46 am

In an announcement on Thursday, the largest property and casualty insurance company in California, State Farm Insurance, announced that 30,000 property insurance and 42,000 commercial apartment policies would not be renewed throughout the state, effectively removing 2% of all policies...

Ins. Commissioner Lara, Gov. Newsom Announce Sweeping New State Insurance Plan

September 22, 2023 12:11 pmSeptember 22, 2023 12:12 pm

Insurance Commissioner Ricardo Lara and Governor Gavin Newsom announced major insurance changes late on Thursday designed to improve insurance choices and keep plans affordable amidst numerous insurance companies recently saying that they would either take no new home insurance policies...

More Layoffs Coming in California’s Insurance Industry Without Reform

September 12, 2023 2:54 pmSeptember 12, 2023 2:54 pm

San Francisco might not be the only California colossus in a so-called “doom loop.” The property and casualty insurance market is experiencing a crisis of its own, and the consequences are dire for the entire state economy. Here’s one recent...

Largest U.S. Insurance Companies Now Claim ‘Climate Change’ is Behind Ending Coverage

September 5, 2023 7:53 amSeptember 6, 2023 6:58 am

Some of the country’s largest insurers have told industry regulators that “extreme weather patterns caused by climate change” is behind the decision to stop writing certain coverages in some regions, as well as excluding protections from various weather events and...

Farmers Insurance Lays Off 2,400 Workers In Latest Insurance Company Flight From California

August 29, 2023 6:57 pmAugust 29, 2023 6:57 pm

Farmers Insurance Group, the Los Angeles-based insurer group of vehicles, homes and small businesses, announced this week that they will be laying off 2,400 workers, largely because of large increases in construction and reconstruction costs, inflation, and a largely increased...

CA Senate Republicans Send Letter To Insurance Commissioner Lara Over Faltering Homeowners Insurance Market

August 25, 2023 2:30 amAugust 25, 2023 2:31 am

California State Senators delivered a letter to California Insurance Commissioner Ricardo Lara on Thursday, urging him to take more direct action in fixing the state’s faltering homeowners insurance market. In the past three months, 5 insurance companies operating in California...

Liberty Mutual Latest Insurance Company To Terminate Polices In CA

July 27, 2023 4:05 pmJuly 27, 2023 4:05 pm

According to new reports on Thursday, Boston-based insurance company Liberty Mutual will cease to offer business owner’s policies, which include both property and liability risks for businesses, to customers in California this fall, becoming the latest company to limit what...