State farm News

Federal Court Advances COVID-19 Business Income Suit Despite Virus Exclusion

A federal district court in Virginia has ruled that a spa’s COVID-19-related business income loss lawsuit can move forward despite a virus exclusion in its insurance policy. The United States District Court for the Eastern District of Virginia, Norfolk Division, …

State Farm Fire Prevention Pilot Tests Sensors That Detect Electrical Wiring Defects

State Farm is sending sensors that can detect hazards in electric wiring to 40,000 homeowners in California, Arizona and Texas as part of a pilot project that will measure potential savings and customer acceptance. Mike Fields, a State Farm vice …

An Insurance Lyft: CSAA Forms Rideshare Carrier; Allstate, Liberty Mutual Offer Coverage

A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty Mutual in a handful of …

Court Affirms Class Action Suit Against State Farm in Kentucky Claim Underpayment Case

A federal appellate court has cleared the way for a class-action lawsuit to proceed against State Farm Fire and Casualty Insurance Co. that may force the insurer to correct underpayments paid to some 65,000 policyholders. A 6th Circuit Court of …

Louisiana Insurance Commissioner: State Farm Cutting Auto, Homeowners Rates

Louisiana Insurance Commissioner Jim Donelon has approved overall base rate decreases of 3.5% for homeowners’ policies issued by State Farm Insurance Co., which follows his approval of an additional decrease of 2.3% for State Farm auto policies in March. “In …

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 — …