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California Department Of Insurance

All articles tagged with #california department of insurance

business24 days ago•7 min saved

CA regulators push to suspend State Farm license over LA wildfire claim handling

California regulators filed an administrative action against State Farm General alleging mishandling of January 2025 wildfire claims in Los Angeles County, finding 398 violations in about half of 220 sampled claims. The department seeks a cease-and-desist order and the possible suspension of State Farm’s California certificate of authority for up to a year, plus multi‑million-dollar penalties; a state administrative law judge will hear the case and decide on penalties and suspension terms. State Farm denies the allegations, noting it has paid more than $5.7 billion and processed thousands of claims, while a market conduct examination into its California operations continues amid broader concerns about the state’s homeowners insurance market.

via Los Angeles Times|

#business #california-department-of-insurance #license-suspension

business25 days ago•6 min saved

CA Regulators Say State Farm Mishandled 2025 Wildfire Claims, Could Lose License

California's Department of Insurance says State Farm violated state law in handling 2025 wildfire claims from the Eaton and Palisades fires, with hundreds of violations found in a sample of 220 cases—including delays, underpayments, and misclassified testing costs—potentially triggering millions in penalties and a temporary license suspension; State Farm disputes the findings while California faces an ongoing insurance-crisis and rising premiums.

via ABC7 Los Angeles|

#business #california-department-of-insurance #eaton-fire

crime1 month ago•1 min saved

Bear-Suit Insurance Scam Lands Three in Jail in California

Three Los Angeles residents were sentenced to 180 days in jail for an elaborate auto-insurance fraud in which a person dressed as a bear attacked luxury cars—including a Rolls-Royce Ghost—supported by video that investigators later proved showed a human in the suit. A fourth suspect, Ararat Chirkinian, awaits a September preliminary hearing. Zuckerman and Tamrazian were ordered to pay about $52,000 each in restitution, while Muradkhanyan's restitution amount has not yet been determined.

via The Guardian|

#bear-costume #california-department-of-insurance #crime

crime1 month ago•9 min saved

Bear-Costumed Fraud: SoCal scheme pries payouts from luxury cars, trio jailed

A Southern California woman and two men in a bear costume staged “bear” attacks on a 2010 Rolls-Royce Ghost and two Mercedes vehicles in Lake Arrowhead to file fraudulent insurance claims. The trio submitted three claims with the same date and location, two of which were paid (totaling about $141,839) while a third was denied after investigators reviewed surveillance video and confirmed a human in the bear suit with help from a wildlife biologist. The defendants pleaded no contest and were sentenced to jail time for insurance fraud.

via Los Angeles Times|

#bear-suit #california-department-of-insurance #crime

business2 months ago•6 min saved

Calif. regulators seal deal with State Farm to keep 17% homeowners rate hike after L.A. wildfires

A brokered agreement between State Farm General and California regulators preserves a 17% average homeowners rate increase that took effect after the Los Angeles wildfires, freezes mass non-renewals in 2026, and delays a fuller rate review until 2027. The deal, which also imposes refunds to condo owners and rental property holders while allowing small increases for renters, sidesteps a broader scrutiny of the insurer’s claims handling amid thousands of fire-related losses and widespread complaints from policyholders.

via Los Angeles Times|

#business #california-department-of-insurance #homeowners-insurance