State Farm – Page 3 – California Globe

CA Dept. of Insurance Approved State Farm 20% Home Insurance Rate Increase

January 4, 2024 4:48 pmJanuary 5, 2024 11:29 am

The California Department of Insurance approved a request by State Farm Insurance on Wednesday to allow the company to raise all active home insurance rates by 20%. Throughout 2023, multiple insurance companies operating in California either stopped accepting all new...

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...

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...

Farmers Insurance Sets Limits On How Many New CA Homeowners Policies They Issue

July 8, 2023 3:01 amJuly 8, 2023 3:02 am

Farmers Insurance Group, the Los Angeles-based insurer group of vehicles, homes and small businesses, announced this week that they will be limiting the number of new homeowners insurance policies each month in California, becoming that latest insurance company in the...

Not In Good Hands: Allstate Also Stops Accepting All New Home Insurance Applications in California

June 3, 2023 2:30 amJune 3, 2023 6:44 am

Allstate, one of the largest insurance companies in California revealed to the Department of Insurance on Friday that the company stopped accepting all new home insurance applications in California last year. Insurance companies have been on shaky ground in California...