California wildfire backlash: State Farm, other insurers slammed for dropping coverage
The outbreak of deadly wildfires in Southern California has prompted criticism of insurers who have dropped coverage in the state due to regulations that make it hard to price for risk.
State Farm canceled California homeowners’ insurance policies months before wildfires
State Farm canceled hundreds of homeowners’ insurance policies for residents in many of the same areas now in the path of the Southern California wildfires. The insurance company’s reasoning for canceling policies for people living in Pacific Palisades in Los Angeles County,
State Farm expands renewal offers to all L.A. County policyholders slated to have been dropped
State Farm, California's largest home insurer, said Thursday it will offer renewals to all of its 250,000 L.A. County residential policyholders slated to have been dropped, not just those in fire rava
State Farm scraps Super Bowl 2025 commercial as outrage mounts over LA fires
State Farm often runs commercials during NFL games, but the insurance company won’t have an ad presence during Super Bowl 2025 in the wake of the fires that have devastated the Los Angeles
State Farm’s finances were a worry even before L.A. fires. Here’s what we know about its ability to pay claims going forward
Months before the Los Angeles wildfires sparked, State Farm’s California arm was already in trouble, it told state regulators. Its policyholder surplus — the cash it has on hand to pay out claims — had dropped from more than $4 billion in 2016 down to just $1.
State Farm offers homeowners in fire areas a chance to renew insurance policies.
State Farm, the largest homeowners insurance company in California, jolted residents last year by announcing it would not renew 30,000 policies. That included about 8,100 homeowners in communities ravaged by the current wildfires, state officials said.
California’s FAIR Plan, the home insurer of last resort, may need a bailout after the L.A. fires
California's Fair Plan, the state's insurer of last resort, may be unable to pay billions in claims arising from the Los Angeles fires and may require a bailout that could ultimately be paid by homeowners statewide.
State Farm cancels Super Bowl ad over California wildfires
Insurance giant State Farm has canceled a Super Bowl ad that was set to air during the big game in February — in part, it said, over the raging wildfires in California. “Our focus is firmly on providing support to the people of Los Angeles.
Largest California Insurer Cancels Super Bowl Ad Over Wildfire 'Tragedy'
State Farm, the largest property insurer in California, has canceled its Super Bowl ad because it is focused on responding to the "tragedy" of the LA fires.
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State Farm will offer policy renewals to LA homeowners affected by wildfires
LOS ANGELES - State Farm, one of the largest insurers in California, announced Wednesday it will offer policy renewals to homeowners impacted by the wildfires that erupted in the Los Angeles area last week, following previous plans to drop coverage.
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Thousands of Los Angeles homeowners were dropped by their insurers before the Palisades Fire
About 1,600 policies in Pacific Palisades were dropped by State Farm in July, California Department of Insurance spokesman Michael Soller said in an Thursday email to CBS MoneyWatch. An analysis ...
State Farm, California's Largest Insurer, Cancels Planned Super Bowl Ad Citing L.A. Fires "Tragedy"
The Super Bowl commercial would have been the second consecutive spot from the insurance giant, after Arnold Schwarzenegger played 'Agent State Farm' in last year's game.