State Farm executive fired over comments on premium hikes

California regulator mulls State Farm’s request for 22% premium hike for homeowners after LA fires
California's top insurance regulator says he will approve an emergency request from State Farm to raise home insurance rates for roughly a million customers if the company can justify the hike at a public hearing.
California insurance regulators approve State Farm’s request for massive homeowner rate hike
California insurance regulators have “provisionally approved” State Farm’s request for a massive rate hike for homeowners following the devasting Los Angeles wildfires.
State Farm executive fired over comments on premium hikes after California wildfires
A State Farm executive was fired over an undercover video of comments he made about the insurer's California rate hike request in the wake of the devastating Los Angeles area wildfires.
Insurance commissioner ‘provisionally’ grants State Farm’s 22% rate hike
California Insurance Commissioner Ricardo Lara decided Friday to provisionally grant State Farm General's request for a 22% hike in its homeowner insurance rates pending a formal rate hearing next month.
State Farm VP fired after video released of him ‘kind of’ discussing orchestrated California rate hikes
A State Farm executive has been fired following the release of a recording where he said the company’s California rate hikes are “kind of” orchestrated, according to a Los Angeles Times story.
Senior State Farm exec sacked after honey trap sting over California wildfires
Kirkpatrick, who joined State Farm in 2021 and had started his insurance career in 2015 with Esurance, told the LA Times that the secret video was filmed during a Tinder date – which he now thinks was a set-up.
California insurance chief says he’s near ‘solution’ on State Farm rate hike
State Farm executives said at the meeting that it needs a 22% emergency rate hike in California to cover more than $7.9 billion in losses. Lara initially rejected the request, saying in a Friday, Feb. 14, letter to State Farm executives that he needed more information before he can approve an increase.
California insurance commissioner approves State Farm rate hike — with conditions
Insurance Commissioner Ricardo Lara said Friday he will approve State Farm’s request for an emergency rate increase, but only if the company’s California arm can justify its need for it at a public hearing next month.
State Farm can hike rates on California homeowners — if it pauses cancellations and proves need
California Insurance Commissioner Ricardo Lara said today he will grant State Farm’s request to raise home insurance premiums by 22% on average if the company agrees to certain conditions — and wins approval at a public rate hearing next month.
California reconsiders State Farm rate hike as insurer’s losses rise
As we enter the fire season, it’s in jeopardy,” CFO Mark Schwamberger said of the state’s largest policyholder.
State Farm VP fired over comments in undercover video on wildfires, rate hikes
A State Farm VP was fired after undercover video revealed comments on rate hikes and wildfire risks. The executive claims it was a setup.
State Farm’s California Insurance Crisis Came After Rapid Growth
It grew into the state’s largest home insurer by writing policies with low premiums and inadequate reserves for the risks it ...
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State Farm Requests Emergency 22% Rate Increase Following Los Angeles Fires
State Farm General, California’s leading home insurance provider, has formally requested an emergency rate hike averaging 22% ...
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State Farm tells Lara that it "doesn't make sense" to issue new policies in California
With Lara expected to issue a decision on State Farm’s request imminently, homeowners, insurers, and policymakers are bracing ...
‘They’re being so stingy with everything.’ State Farm criticized for claims response
State Farm, the largest home insurer in California, continues to seek approval of a 22% emergency rate hike even as it faces ...