All articles tagged with #state farm
An Ohio family says hail damage wrecked their roof, but State Farm will only repair three shingles instead of fully fixing the roof, prompting questions about legality and insurers’ obligations. The situation highlights homeowner rights and could invite regulatory or legal review.
After investigators found State Farm may have violated state law hundreds of times in wildfire claims handling, California State Senator Sasha Renée Pérez urged regulators to escalate pressure by restricting the insurer’s auto-insurance business, arguing that’s where it makes most of its money; regulators could fine up to $4 million or bar new policies if violations are willful, while State Farm denies wrongdoing.
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.
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.
California’s Insurance Department says State Farm delayed, underpaid, and inserted red tape in handling Los Angeles fire insurance claims, finding violations in about half of 220 examined claims (out of 430 total). If upheld, penalties could reach up to $5,000 per violation (and $10,000 per willful violation), potentially totaling roughly $2 million to $4.3 million, with a hearing that could lead to a temporary suspension of the company’s California license. State Farm disputes the findings, while regulators seek to ensure homeowners maintain coverage after the fires.
Braden Smith broke the NCAA all-time career assists record with his 1,077th dime (vs Queens) and then signed an NIL deal with State Farm as part of its 'With the Assist' campaign, expanding a growing NIL portfolio that includes Great Clips and NBA 2K sponsorships; his $1.1M On3 NIL Valuation ranks him among the top college basketball earners, as Purdue advances to face Miami after a 26-point, eight-assist Round of 64 win.
State Farm will close its Corporate Headquarters and Illinois Operations Center in Bloomington by the end of 2027, consolidating about 13,000 local employees into Corporate South to reduce underutilized space. The move may affect local tax revenue (HQ about $3.2 million and Ops Center about $979,116 annually) and Bloomington’s commercial real estate, with no firm plans yet for the vacated properties. The company says it will push toward more in-person work, with Corporate South able to accommodate all employees; about 60% of staff are hybrid today, which could boost local activity as people return to the office.
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.
State Farm is issuing a one-time $100 dividend to about 49 million auto-insurance customers. The article outlines who qualifies and how the payment will be delivered, including how checks will be sent and when to expect the payout.
State Farm will issue an average $100 refund per auto policyholder, totaling about $5 billion for 49 million vehicles this summer; the cash refunds (not credits) reflect stronger-than-expected underwriting and lower auto repair costs, with more refund details to come.
State Farm is returning a record $5 billion in dividends to its customers, reflecting profits paid back to policyholders by the mutual insurer. Most payouts are issued automatically as credits on policy accounts or via mailed checks. If you believe you’re eligible but don’t see a credit, check your State Farm online account or contact customer service for the status and steps to claim.
State Farm will issue an average $100 per vehicle cash-back dividend to auto policyholders this summer, totaling about $5 billion for more than 49 million vehicles, as auto rates were cut by roughly 10% in 40 states (about $4.6 billion in savings) — the largest dividend in State Farm's 103-year history.
State Farm Mutual Automobile Insurance Company announced a $5 billion cash-back dividend for auto policyholders—the largest in its history—on top of $4.6 billion in annual auto-rate reductions. The one-time payments will be distributed this summer to qualifying customers across more than 49 million insured vehicles, averaging about $100 per vehicle, reflecting the mutual company’s financial strength and favorable underwriting.
State Farm will pay about $5 billion in auto-insurance dividends this summer, roughly $100 per vehicle for more than 49 million insured cars, funded by stronger underwriting and lower 2025 collision costs; auto rates have fallen about 10% in 40 states and around 15% in Illinois, while homeowners insurance remains challenged by severe weather and higher reinsurance costs.
An Arkansas jury found that State Farm underpaid customers for totaled cars by using outdated software that undervalued vehicle replacement costs, leading to a class action lawsuit. The case highlights issues with how insurance companies calculate payouts, with similar lawsuits emerging in other states.