Latest State Farm Headlines
All the headlines from our State Farm Topic Page, ordered by recency.
State Farm to Cut California Auto Insurance Rates
May 14 2009 // State Farm’s 3.3 million California auto insurance policyholders will soon see a decrease in their premiums, as the California Department of Insurance approved an 8 percent, $219 million rate cut. The 8 percent rate...
Florida Officials, State Farm Expect to Resolve Withdrawal Terms By June 15
May 13 2009 // Representatives of Florida insurance regulators and State Farm Florida believe they will be able to resolve their differences over how the insurer may exit the state’s insurance marketplace by June 15. Lawyers for...
State Farm Expects $10M-plus Loss From Oklahoma Fires
Apr 15 2009 // Oklahoma’s largest insurer expects to see more than $10 million in home and automobile damage claims from recent wildfires. State Farm Insurance spokesman John Wiscaver said the company is working on more than 1,000...
Charges Dropped Against Firm Accused of Hail Scam in Indiana
Apr 6 2009 // Prosecutors in Indianapolis, Ind., have dropped insurance fraud charges against a Florida-based repair company accused of faking hail damage to drum up business after a 2006 storm. Instead, CPM Construction President...
Florida Denies State Farm Hearing on Homeowners Market Withdrawal Plan
Apr 6 2009 // Florida Insurance Commissioner Kevin McCarty has denied State Farm Florida an administrative hearing on details of the insurer’s plan to withdraw from the state’s homeowners market. State Farm Florida has...
Florida Denies State Farm Hearing on Withdrawal Plan
Mar 30 2009 // Florida Insurance Commissioner Kevin McCarty has denied State Farm Florida an administrative hearing on details of the insurer’s plan to withdraw from the state’s homeowners market. State Farm Florida has...
Business Moves
Mar 23 2009 // State Farm Fire and Casualty Co. Nevada Insurance Commissioner Scott J. Kipper has approved a rate change for homeowners insurance premiums as filed by State Farm Fire and Casualty Co. The rate change will become effective...
State Farm Balks at Florida Withdrawal Conditions
Mar 23 2009 // State Farm Florida has appealed stipulations that Insurance Commissioner Kevin McCarty has put on its plan to withdraw from the state’s property insurance market. Florida’s second largest insurer of homes and...
State Farm Recalls Promotional Teddy Bears Made in China
Mar 18 2009 // U.S. insurer State Farm said on Tuesday that more than 800,000 teddy bears given out in North America as part of a company promotion were being recalled because of a choking hazard. The toys, called the “State Farm...
Ratings Roundup: Zenith, State Farm, Restoration RRG
Mar 17 2009 // Fitch Ratings has affirmed Zenith National Insurance Corp.’s ratings as follows: Zenith –Issuer Default Rating (IDR) ‘BBB+’. Zenith National Insurance Capital Trust I –$58.5 million 8.55...
State Farm Appeals Conditions Placed on Florida Withdrawal
Mar 9 2009 // State Farm Florida on Friday appealed stipulations that Insurance Commissioner Kevin McCarty has put on its plan to withdraw from the state’s property insurance market. Florida’s second largest insurer of homes...
Florida Governor’s Insurance ‘Plan’ Is Dangerous and Expensive
Mar 9 2009 // The Florida property insurance market today reminds me of the old cartoon with the insurance pitch: “Here’s a nice little policy with a real low premium if you promise never to have any claims.” When the...
State Farm Makes Homeowners Insurance Rate Changes in Nevada
Mar 6 2009 // Nevada Insurance Commissioner Scott J. Kipper has approved a rate change for homeonwers insurance premiums as filed by State Farm Fire and Casualty Co. The rate change will become effective on April 1, 2009, for new...
S&P Affirms State Farm Ratings, But Revises Outlook to Negative
Mar 4 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. and all of its core companies, including...
State Farm: $6.3B P/C Underwriting Loss, $2.1B Operating Loss in 2008
Feb 27 2009 // The net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion, the company reported. The primary reason for the decrease was the $9.2 billion decline in the value of the...
Returning Florida Lawmakers’ Agenda Includes Property Insurance Woes
Feb 23 2009 // Florida Gov. Charlie Crist’s political mantra has been to hold down property insurance rates, taxes and almost anything else costly for people he wants voting for him next year. Whether Crist seeks re-election or Mel...
Attitude Adjustment
Feb 22 2009 // The tiff between State Farm Florida and the Office of Insurance Regulation that has culminated in the insurer’s withdrawal from the state’s property market is disturbing. It’s not disturbing because an...
Declarations
Feb 22 2009 // Devastating “From what I saw today, it was incredible, and we only saw a very small portion today. If you extrapolate that over the entire geographic area that is impacted by Kentucky, it’s a devastating...
Florida Attaches Major Conditions to State Farm Withdrawal
Feb 22 2009 // Florida Insurance Commissioner Kevin McCarty has offered his own plan for State Farm Florida Insurance Co.’s withdrawal from the state that includes conditions not in the insurers’ own plan. McCarty wants State...
FSLA Leader Sees Soft Market Opportunities in State Farm Exit, Med Mal, EPLI
Feb 22 2009 // The Florida surplus lines industry may be challenged right now by regulatory uncertainty stemming from the Essex and CNL Hotels rulings but it is not letting that blind it to opportunities. One opportunity is the pending...
