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California insurance regulator launches investigation into State Farm over claims from LA fires
- California Insurance Commissioner Ricardo Lara launched a formal investigation on June 12 into State Farm General's handling of claims from the January 7 Los Angeles County fires.
- The investigation follows widespread complaints alleging delayed payments, frequent adjuster reassignments, and inconsistent claims handling after fires killed 29 people and destroyed over 16,000 structures.
- By June 3, State Farm had processed in excess of 12,800 claims and disbursed over $3.85 billion, while seeking—and subsequently obtaining—a 17% emergency rate increase last month to help manage financial stability amid projected losses of $7.6 billion.
- The Department of Insurance described 'troubling patterns' including poor communication and record keeping, and State Farm faces lawsuits accusing collusion to shift homeowners to less comprehensive, costly FAIR Plan policies.
- The ongoing market conduct examination aims to assess compliance with consumer protection laws, possibly prompting reforms, while the department encourages policyholders to file complaints via insurance.ca.gov or 800-927-HELP.
61 Articles
61 Articles
These 16 buyers bought multiple parcels in LA County’s burn zones
Sixteen buyers of two or more lots accounted for at least 72 of the sales in Altadena and Pacific Palisades, a Southern California News Group analysis of county records and Redfin data show. Single-lot buyers bought at least 129 parcels. The Southern California News Group was unable to identify the buyers of eight lots. RELATED: Lottery winner, investors snatch up homesites in LA fire zones Redfin shows there are about 305 other lots listed for …
Americans master the art of defying disasters. For example, the friends of our author, who were robbed by the fires in L.A. at the beginning of the year.
California launches probe into State Farm’s handling of L.A. wildfire claims
California’s top insurance regulator on Thursday launched an investigation into State Farm over the company’s handling of claims from the January Los Angeles-area wildfires.The investigation comes after survivors of the Palisades and Eaton fires said that the state’s largest home insurer was delaying and mishandling claims regarding damage to their homes and possible contamination from smoke.The blazes destroyed thousands of buildings around Los…
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