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Triple I: Dog-related Injury Claim Payouts Hit $1.12 Billion in 2023
Information Institute and State Farm said. Janet Ruiz, director of strategic communications at the Triple-I, said in a statement the number of dog bite and related injury claims ...
Source: BestWire   Date: April 9, 2024
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Appeals Court Reverses COVID Class-Action Bid Against State Farm
State Farm Mutual Automobile Insurance Co. and State Farm Fire and Casualty Co. should have been granted a dismissal of a putative class action filed by Elegant Massage LLC for ...
Source: BestWire   Date: March 12, 2024
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State Farm Annual Net Loss Narrows to $6.3 Billion on Claims Severity, Cats
Financial Officer Mark Schwamberger said in a statement. The underwriting loss for auto narrowed to $9.7 billion compared with a $13.4 billion underwriting loss in 2022. Net income ...
Source: BestWire   Date: February 29, 2024
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Schwarzenegger Stars in State Farm's Newest Super Bowl Ad
San Francisco 49ers on Feb. 11. Under the Mahomes partnership, other Chiefs were featured in commercials this season, including Travis Kelce, who is dating music star Taylor Swift. ...
Source: BestWire   Date: February 9, 2024
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California Homeowners Leader State Farm Secures Rate-Hike Approval
State Farm General Insurance Co., which called for statewide average increases of 20% for both non-tenant homeowners and condominium unit owners coverage of 20.8%, according to ...
Source: BestWire   Date: December 28, 2023
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Three Carriers Take in Nearly 4,700 Claims From Catastrophic Tennessee/Kentucky Tornadoes
Gibson County, Sulateskee said. Of the remaining five tornadoes, four were rated EF-2 by the National Weather Service. An EF-2 with peak winds of 130 mph that spun across Davidson ...
Source: BestWire   Date: December 14, 2023
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AM Best Revises Outlooks to Negative for State Farm Mutual Automobile Insurance Company and Certain Subsidiaries
...Winter Haven, FL) and of MGA Insurance Company, Inc. (MGA) (Dallas, TX). AM Best also has revised the outlooks to negative from stable and affirmed the FSR of A (Excellent) and the ...
Source: BestWire   Date: September 22, 2023
State Farm Commits to Florida Presence, Commends Reform Measures
Regulation to improve the marketplace," said Gadson. A new Florida report providing a snapshot of the state's property insurance market shows the companies reported an aggregate ...
Source: BestWire   Date: July 17, 2023
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California Regulator Cannot Stop Homeowners Freeze, but Some Top Carriers Remain
Consumer Watchdog, which last month said Lara indeed has that authority. "Under Proposition 103, insurance companies can't just stop selling insurance to consumers in order to make ...
Source: BestWire   Date: June 6, 2023
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APCIA: Prop 103 Contributes to State Farm’s California Property Insurance Freeze
State Farm General Insurance Co.'s decision to halt writing new property coverage in California due to the threat of wildfires was driven at least in part by the state's "outdated" ...
Source: BestWire   Date: May 30, 2023
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Florida OIR Orders 1% Emergency Assessment to Pay Guaranty Association Claims
Michael and Ian and potentially others, the order said. FIGA asked the Florida Insurance Assistance Interlocal Agency to float a short-term bond anticipation note of $150 million ...
Source: BestWire   Date: April 18, 2023
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Best’s News: AM Best Says Title Insurers Post Solid Results Amid Volatile Landscape
Report that is discussed in this week's Best's News. Also this week: - State Farm recorded a $6.7 billion annual net loss, compared with a $1.3 billion net income in 2021, hit with ...
Source: BestWire   Date: March 3, 2023
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State Farm Posts $6.7 Billion Annual Net Loss as Incurred Auto Losses Climb Nearly 40%
Casualty Insurance Association figures. "The rate and severity of auto accidents are up as well as the costs to cover them," Blades said (BestWire, Feb. 10, 2023). The remainder of ...
Source: BestWire   Date: February 27, 2023
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KCC: Ian Losses Approach $63 Billion as Litigation Issues From Both Wind and Water Damage Emerge
Florida history," KCC said. "The total economic damage will be well over $100 billion, including uninsured properties, damage to infrastructure, and other cleanup and recovery ...
Source: BestWire   Date: October 3, 2022
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AM Best Affirms Credit Ratings of State Farm Mutual Automobile Insurance Company and Its Subsidiaries
Company (State Farm General). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a" (Excellent) of State Farm Lloyds (Richardson, TX), HiRoad ...
Source: BestWire   Date: September 9, 2022
Insurance Groups: Proposed California Rate Regulation Linked to Wildfire Mitigation ‘Problematic’
Vice President Christian Rataj. The regulations will send a strong signal to consumers and businesses to better prepare for extreme wildfires, although more needs to be done to ...
Source: BestWire   Date: September 8, 2022
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State Farm Investing $1.2 Billion in ADT and Fund Innovation Fund
State Farm equity issuance. That would offset any dilution from State Farm's equity investment, ADT said in a presentation on the pending deal. Google will continue to own a 6% ...
Source: BestWire   Date: September 7, 2022
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Best’s Rankings: US Property/Casualty Industry 2022 Six-Month Combined Ratio Rises to 100
...Month 2020 Financial Results ranking study. Direct premiums written rose 10% in the first half of 2022, compared with a 9.2% rise in the same period of 2021. State Farm Group ...
Source: BestWire   Date: September 2, 2022
State Farm Settles 2006 Hurricane Katrina Case for $100 Million
National Flood Insurance Program. The order, signed by District Judge Halil Suleyman Ozerden, also ends counterclaims State Farm filed against the Rigsby sisters and provides other ...
Source: BestWire   Date: August 25, 2022
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State Farm Files $2.6 Million Auto Insurance-Fraud Complaint in New Jersey
New Jersey District Court. "The defendants have no legal or equitable right to receive payment from plaintiffs for any bill submitted to plaintiffs which includes false, ...
Source: BestWire   Date: August 5, 2022
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