Latest State Farm Headlines
All the headlines from our State Farm Topic Page, ordered by recency.
Minn. Commissioner Levies Charges Against State Farm
Jul 1 2002 // Minnesota Commerce Commissioner Jim Bernstein is charging State Farm Fire and Casualty Company and State Farm Mutual Automobile Insurance Company with more than 13,000 violations of Minnesota insurance law. Based on a...
State Farm Pact “Not Stabilization or Competition” Says PIANJ’s Madara
Jun 27 2002 // Professional Insurance Agents of New Jersey President David J. Madara, CPCU, AAI, took issue with certain aspects of the agreement between New Jersey’s Governor, the Department of Banking and Insurance (DOBI) and...
NJ, State Farm Agree to Delay Withdrawal for 3 Years
Jun 26 2002 // State Farm Indemnity, New Jersey’s largest auto insurer with around 735,000 policyholders, has reached agreement with the governor and the NJ Department of Banking and Insurance (DOBI) to delay its withdrawal from...
State Farm Subsidiaries Request Rate Hike in Nev.
Jun 26 2002 // The Nevada Department of Insurance announced two State Farm subsidiaries, State Farm Mutual Automobile Insurance Company and State Farm Fire & Casualty Company, recently requested proposed rate hikes of 3.7 percent...
State Farm Ceases Writing New La. Auto Policies
Jun 25 2002 // State Farm Insurance Co. announced it would stop writing new auto policies in Louisiana, and would also request a 16 percent rate increase to generate more than $150 million to offset losses. According to A.M. Best and The...
State Farm Shuns New Homeowners Policies in Kansas, Missouri
Jun 21 2002 // State Farm Insurance Company imposed a moratorium on new homeowners customers in Missouri and Kansas, expanding its ban against new residential policies to five states. According to the Kansas City Star, the company is the...
State Farm Places Moratorium on Homeowners Policies in 17 States
Jun 21 2002 // State Farm Insurance Company announced it would stop writing new homeowners insurance in 17 states in efforts to boost profitability, according to reports by the Dow Jones Newswire and the Associated Press. The move comes...
State Farm Downgraded
Jun 10 2002 // S&P removed from CreditWatch and lowered the counterparty credit and financial strength ratings on State Farm’s core operating units to “AA+” from “AAA.” Also removed from CreditWatch was...
State Farm Downgraded
Jun 10 2002 // S&P removed from CreditWatch and lowered the counterparty credit and financial strength ratings on State Farm’s core operating units to “AA+” from “AAA.” Also removed from CreditWatch was...
Watch the Skies, Weather Still Causing Trouble for Homeowners Markets
May 27 2002 // For the past year, while the Texas homeowners insurance market reeled from the effects of mold claims on premium (and still does), homeowners markets in other states have begun bracing themselves for similar nightmare...
Standard and Poor Takes State Farm off Watch, Lowers Ratings
May 20 2002 // Standard & Poor’s has removed from CreditWatch and lowered the counterparty credit and financial strength ratings on State Farm’s core operating units to double-‘A’-plus from...
STATE FARM WITHDRAWS FROM LA.
May 13 2002 // State Farm has decided to take a hike from the Louisiana homeowners market and Acting Insurance Commissioner Robert Wooley acknowledged the pullout comes as no surprise. In a statement, Wooley noted that the company cited...
STATE FARM PUTS MORATORIUM ON CALIF. HOMEOWNERS’ INSURANCE
May 13 2002 // Saying the company’s top priority is to its current customers, State Farm has put a moratorium on issuing homeowners’ policies in California until further notice. “We’ve been facing some real...
TDI Rejects State Farm’s Request for Higher
May 13 2002 // Texas Insurance Commissioner Jose Montemayor has denied a second request in three months by State Farm Insurance Co., to raise its auto insurance premiums. According to the Austin American Statesman, State Farm raised auto...
Is the Texas Personal Auto Market Another Homeowners in the Making’
Apr 29 2002 // The personal automobile insurance market in Texas may not be approaching the crisis level at which the homeowners market currently finds itself, but signs indicate that it may be in for a rough ride. According to the Texas...
Mendoza Says Calif. State Farm Decision Is of Concern
Apr 26 2002 // Gary Mendoza, Republican nominee for California Insurance Commissioner, expressed concern over State Farm General Insurance Co.’s announcement that it will no longer accept new homeowners business in the...
State Farm Withdraws from Homeowners Insurance in Calif.
Apr 25 2002 // State Farm Insurance Company recently announced that it would no longer sell homeowners insurance in California due to the increasingly large payouts over the past two years, according to the Los Angeles Times. The company...
State Farm Puts Moratorium on Calif. Homeowners’ Insurance
Apr 22 2002 // Saying the company’s top priority is to its current customers, State Farm has put a moratorium on issuing homeowners’ policies in California until further notice. “We’ve been facing some real...
State Farm Ratings on WatchNegative
Apr 15 2002 // S&P placed its “AAA” financial strength ratings on all State Farm’s interactively rated operating companies on CreditWatch with negative implications, primarily because of large losses in the...
Approval of State Farm HO-W Policy Applauded
Mar 25 2002 // State Farm Lloyds, the Dallas-based property insurance unit of State Farm Insurance Companies, received approval from the Texas Department of Insurance (TDI) to sell its nationwide homeowners policy, the HO-W, in Texas,...
