Latest From This Author
Los Angeles officials are reaching out to the local Armenian community for assistance with an ongoing investigation into allegations of discriminatory banking practices.
The largest home insurer in California seeks approval of a 22% emergency rate hike even as it faces complaints over its handling of insurance claims.
State Farm, the largest home insurer in California, continues to seek approval of a 22% emergency rate hike even as it faces complaints over its handling of insurance claims.
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.
The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It’s Trump administration’s latest move to drop enforcement actions.
State Farm General, California’s largest home insurer, estimates it will pay $7.6 billion to settle its Los Angeles fire claims but reinsurance will lower its losses to about $612 million, including its costs for bailing out the state’s Fair Plan.
Farmers Insurance said claims from the Los Angeles fires will cost it at least $600 million, a substantially smaller initial estimate than some other insurers have posted.
The devastation caused by the twin blazes has raised fresh questions about whether the state — and its top insurance regulator, Ricardo Lara — have done enough to protect homeowners.
Insurance Commissioner Ricardo Lara on Friday rejected State Farm General’s request for an emergency 22% home insurance rate hike due to the Los Angeles fires unless the insurer can provide more evidence it is warranted.
