State farm News

Insurers Win Antitrust ‘Steering’ Lawsuits Filed by Body Shops

A federal appellate court threw out most of the claims by automotive body shops in Indiana, Utah and Mississippi that alleged that major insurers violated antitrust laws and engaged in anticompetitive practices by steering policyholders to “approved” shops. The 11th …

Texas Windstorm Insurer to Assess Members $90M for Harvey, Defer Action on Rates

The Texas Windstorm Insurance Association board of directors voted today to assess member insurance companies $90 million based on losses from Hurricane Harvey and voted to defer further consideration of action regarding TWIA insurance rates on residential and commercial policies …

Louisiana Insurance Commissioner, State Farm at Odds Over Hurricane Deductibles

Louisiana Insurance Commissioner James Donelon has issued a cease and desist order against State Farm in a dispute over hurricane deductibles before Hurricane Barry. The state Department of Insurance received a complaint July 17 from a policyholder who claimed the …

State Farm Lowering Home Insurance Rates in Kansas

State Farm said it is reducing its Kansas homeowners insurance rates by an average of 2.2 percent. The total statewide expected savings impact for State Farm customers by this rate decrease is approximately $5.1 million. The rate decrease is effective …

Auto, Homeowner Claims from Severe Midwest Weather Add Up for State Farm

State Farm said last week it had received over 6,000 homeowner claims and more than 5,000 auto claims related to severe weather that pummeled the Midwest on May 27 and 28. The company reported around 6,110 total homeowner claims — …

Report Ranks California Top of Nation’s in Dog-Related Injury Claims

A report from carrier State Farm shows it paid $123 million dollars for 3,280 dog bite and injury claims, last year, a decrease of 9 percent compared with the number of dog bite claims in 2017 and a decrease of …

State Farm: Illinois and Missouri Ranked 3rd and 5th for Hail Damage in 2018

A new report from State Farm says that Illinois and Missouri were among the top states in the nation for hail damage in 2018, according to a new report from State Farm. Illinois ranks third with $330 million in paid …

State Farm’s Ohio Auto Insurance Customers to See Rate Cuts

State Farm Mutual Automobile Insurance Co. announced it is cutting its rates in Ohio for the second year in a row. The overall personal auto rate in the state is dropping by 3.7 percent, effective Feb. 18. The total state-wide …

Big 3 Drive Personal Auto Insurance Recovery; Signs of Rate Hike Fatigue Ahead

Steady improvement for U.S. personal auto insurance companies has culminated in the sector’s best underwriting performance in 10 years, according to Fitch Ratings in a report. The market improvement was driven by the three biggest auto insurers. The U.S. personal …

Morgan Stanley: State Farm, Allstate Largest Insurers Exposed to Alaska Quake

State Farm, Allstate and USAA have the lion’s share of exposure from the magnitude 7.0 earthquake that struck Alaska on Nov. 30, according to a Morgan Stanley Research brief put out on Monday. The epicenter was roughly 7 miles north …