State Farm, California and rate hikes

California insurance chief says he’s near ‘solution’ on State Farm rate hike
State Farm executives said at the meeting that it needs a 22% emergency rate hike in California to cover more than $7.9 billion in losses. Lara initially rejected the request, saying in a Friday, Feb. 14, letter to State Farm executives that he needed more information before he can approve an increase.
State Farm executive fired over comments about rate hikes
Haden Kirkpatrick, a top State Farm executive, said he was fired after being recorded in an undercover video making disparaging remarks about Pacific Palisades homeowners.
State Farm asks California to raise homeowner insurance rates by 22%
State Farm wants to raise its rates by about 22% for California homeowners, which would affect about one million people.
California reconsiders State Farm rate hike as insurer’s losses rise
As we enter the fire season, it’s in jeopardy,” CFO Mark Schwamberger said of the state’s largest policyholder.
State Farm fires executive who discussed prospect of more California nonrenewals in undercover video
A State Farm executive has been fired after an undercover video of him discussing the company’s request for insurance rate hikes in California and appearing to denigrate residents of fire-devastated Pacific Palisades circulated online.
Secret video: State Farm exec appears to confess to manipulating California insurance rate hikes
The video appears to have been recorded sometime after the Southern California wildfires, and references the Palisades Fire in particular.
The San Bernardino Sun6h
State Farm executive fired after disparaging L.A. wildfires and victims
Haden Kirkpatrick said State Farm’s decision to pull out of California’s insurance market was a calculated move in response ...
California almond growers grapple with uncertainty as new tariffs could hit exports
With more than three-quarters of California’s almond crop headed for export, tariffs could impact where the nut is headed and ...
‘They’re being so stingy with everything.’ State Farm criticized for claims response
State Farm, the largest home insurer in California, continues to seek approval of a 22% emergency rate hike even as it faces ...
State Farm exec fired after undercover video of his 'Tinder date' raises rate hike questions
"People want to be built in areas where they have natural areas around them for their ego... But also it's a f***** desert," said the former executive on a leaked and edited undercover video.
Insurance Business America1d
Senior State Farm exec sacked after honey trap sting over California wildfires
Kirkpatrick, who joined State Farm in 2021 and had started his insurance career in 2015 with Esurance, told the LA Times that ...
LAist on MSN1d
Climate politics and insurance intertwine, giving California official a no-win choice on State Farm
For Insurance Commissioner Ricardo Lara, approving an emergency 22% rate hike request by State Farm would raise bills for ...
Autobody News1d
State Farm Narrows Underwriting Losses in 2024, Auto Insurance Drives Recovery
The insurance giant's auto insurance losses dropped by $7 billion compared to 2023, though the sector still ended in the red.
TechBullion4d
State Farm Requests Emergency 22% Rate Increase Following Los Angeles Fires
State Farm General, California’s leading home insurance provider, has formally requested an emergency rate hike averaging 22% ...