“Believe it or not, California has some of the lowest rates in the United States out of any state, because of … rate suppression,” said Chris Hebard, president of Hebard Insurance Solutions, a Northern California-based agency that offers home, auto, farm, and other net worth insurance for both personal and business use, on a recent…
California Faces Policy Desert as Insurance Companies Halt New Coverage: Expert
July 22, 2023
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More Than Wildfire Risk Causing Insurance Companies to Reconsider California: Experts
July 7, 2023
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Business & MarketsCaliforniaCalifornia Department of Insurancehome insuranceinflationNorthern CaliforniaPolicies & Impactsreal estateRegional & State NewsreinsuranceSouthern CaliforniaState FarmState NewsUSUS Newswildfire
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Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
California Insurance Crisis Goes Beyond Wildfire Risk: Experts
July 7, 2023
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Business & MarketsCaliforniaCalifornia Department of Insurancehome insuranceinflationNorthern CaliforniaPolicies & Impactsreal estateRegional & State NewsreinsuranceSouthern CaliforniaState FarmState NewsUSUS Newswildfire
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Property owners across the state have seen their policies dropped by insurance companies due to fire danger, but experts say the state’s regulations are more impactful than the risk posed by natural disasters. After State Farm and Allstate both declared in May they will no longer accept new homeowners’ policies in California, many property owners…
Two Insurance Companies Stop Providing Coverage for Hyundai and Kia Car Models
January 30, 2023
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Top insurers State Farm and Progressive are refusing to provide insurance coverage for certain models made by South Korean car firms Kia and Hyundai, with reports claiming that the vehicles are easier to steal due to a lack of proper anti-theft technology like electronic immobilizers. “State Farm has temporarily stopped writing new business in some…
State Farm, Mississippi Settle Lawsuit Over Hurricane Katrina Payments
BILOXI, Miss.—Mississippi has quietly settled its lawsuit against State Farm Fire and Casualty Co. for allegedly minimizing its Hurricane Katrina payments to policyholders, leaving the state to compensate homeowners. The settlement says the $12 million payment represents “restitution for damage, which was or may have been caused by a violation of law or potential violation…
GEICO Shutters California Branches
August 2, 2022
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Auto-insurance giant GEICO has closed all 38 branches in California, becoming the latest private insurance company to reduce business operations in the state. Locally owned branch offices were told of the company’s decision in a two-minute zoom call, one agent who asked to remain anonymous told The Epoch Times. “It’s criminal,” the branch office owner…
Warren Buffett-owned Company Shutters California Branches
August 2, 2022
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Auto-insurance giant GEICO has closed all 38 branches in California, becoming the latest private insurance company to reduce business operations in the state. Locally owned branch offices were told of the company’s decision in a two-minute zoom call, one agent who asked to remain anonymous told The Epoch Times. “It’s criminal,” the branch office owner…
More Corporations Removed From ‘GenderCool’ Website Following State Farm Exit
May 27, 2022
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A day after insurance company State Farm ended its partnership with an organization aimed at promoting transgender ideology among children, multiple corporations and a federal agency have been deleted from the project’s partner page. State Farm announced May 24 that it had withdrawn support for the “philanthropic” program GenderCool, which pushed for distributing books on…
State Farm Backs Aaron Rodgers’ ‘Personal Point of View,’ but Cuts TV Ads After Vaccine Remarks
November 9, 2021
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State Farm on Monday said it supports Green Bay Packers quarterback Aaron Rodgers’ “personal point of view,” shortly after the footballer said he is unvaccinated and that he thinks the NFL rules regarding COVID-19 and vaccines “are not based in science at all.” The insurance giant said in a statement to several media outlets on Monday…
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