State farm News

California Consumer Group Wants State Farm Homeowners Rate Reduction

State Farm has overcharged its customers roughly $78 million since at least July 2015, and should be required to refund that money, Consumer Watchdog told the California Department of Insurance last week. The group wants State Farm to cut its rates …

State Farm Introduces Ridehsare Coverage in Colorado

State Farm will offer customers a new endorsement in Colorado to cover insurance gaps for policyholders who use personal vehicles to provide rides for transportation network companies like Uber and Lyft. The optional ridesharing endorsement is available beginning Feb. 8. …

California Commissioner OKs New insurance Products to Fill Ridesharing Gap

California Insurance Commissioner Dave Jones approved a new insurance product by USAA designed to close the gap in insurance coverage for drivers driving for all ridesharing companies. The product is now available to USAA’s California drivers for all ridesharing companies, …

Accused of Defrauding State Farm, County Exec in Illinois Quits

The  in central Illinois has resigned in the wake of his indictment on federal fraud charges. Republican Matt Sorensen submitted a resignation letter to an executive committee meeting, The Pantagraph in Bloomington reported. “I refuse to allow current issues to …

County Chairman in Illinois Accused of Defrauding State Farm

Federal prosecutors in Chicago have indicted the chairman of the McLean County Board for defrauding State Farm and a consulting firm of more than $400,000 in unearned consulting fees. Matt Sorensen and co-defendant Navdeep Arora are accused of billing clients …

California Blazes Destroy 2,000-plus Homes, Curb Insurer Appetites

A pair of massive California wildfires that have destroyed more than 2,000 structures are now considered among the most damaging fires in state history, and they could change the way insurers view risk or conduct underwriting in rural areas in …

Sierra Club Dragging State Farm into Climate Change Battle

A State Farm executive is coming under fire from activists for his position on the board of what some consider to be a “climate denier” group. Sierra Club, a progressive investor group and other activist organizations have been waging an aggressive …

Insurer’s Refusal to Settle Can Lead to Bad Faith Liability

Did you know that that an insurer can be liable for bad faith failure to settle even if it never receives a firm settlement offer? The Louisiana Supreme Court recently ruled that it can and also that an insurer can …

Agents in Indiana Say Insurance Increased Prior to Home Explosion

The girlfriend of a man accused of blowing up an Indianapolis, Ind. house, devastating a subdivision and killing two neighbors, nearly doubled the insurance coverage for the contents of her home 11 months before the explosion, two insurance agents testified …

State Farm: Georgia Files Most Lightning Strike Claims

State Farm says Georgia residents file the most claims for lightning strikes in the country. The insurer’s officials told WSB-TV that it paid more than $16 million for lightning-related claims in 2014. The owner of Labeled Lightning Protection Inc., Reagan …