Tag: California insurance commissioner

State Farm Insurance rate reductions are inadequate, billions in fines may follow

Julie Campbell
California State Farm Insurance Rate Notice of Noncompliance

The California Department of Insurance has issued a notice of noncompliance to the insurer. California Insurance Commissioner Dave Jones ordered a State Farm insurance rate reduction in December 2016. The Department of Insurance has now issued a noncompliance notice to the insurer for failing to reduce premiums as mandated. The insurance company was ordered to reduce renters and homeowners insurance rates by an average of 7 percent. This State Farm insurance rate decrease would save consumers $84 million over the span of a year. Moreover, the insurance company was also…

Read More

State Farm insurance rates will soon be slashed, judge’s orders

Nordstrom
State Farm Insurance rates Logo And Exterior

California Insurance Commissioner Dave Jones supports the judge’s decision to reduce premiums. State Farm insurance rates in California may soon be on their way down following a judge’s ruling. That said, homeowners, condo and renters insurance policyholders will need to wait to know if they will also get refunds. That will depend on the outcome of a lawsuit. The judge ruled that State Farm is required to comply with a state order for reducing its rates. That same judge said that while State Farm insurance rates must be reduced, the…

Read More

California Insurance Commissioner supports state-level public option

Nordstrom

As large insurers step out of many of the federal exchanges, the state is looking to lead the way with alternative options. California Insurance Commissioner Dave Jones supports a new state-level strategy that could enhance health insurance marketplace competition. The intention is to implement a public option within the state which could possibly make California a guinea pig for launching similar ideas in the rest of the country. “I think we should strongly consider a public option in California,” said Jones. California Insurance Commissioner Jones explained that the state is…

Read More

Insurance company sues California commissioner

G. Turner
unitedhealth health insurance company

UnitedHealth Group has now filed a lawsuit with the intention of blocking a fine of $173 million. In order to try to stop itself from having to pay a $173.6 million fine as a result of an acquisition that went awry, the UnitedHealth Group insurance company has now sued the California insurance commissioner. The filing of the lawsuit was at the Orange County Superior Court near the end of last week. According to the insurance company, which is headquartered in Minnesota, the California commissioner, Dave Jones, is doing little more…

Read More

Health insurance rate increase draws ire of California regulators

Logan B.
Dave Jones California insurance commissioner insurance industry rates

Dave Jones criticizes health insurance company for rate increases California Insurance Commissioner Dave Jones has strong criticism against some of the state’s health insurance companies this week. The Commissioner, who has long been wrestling with insurers over the cost of health insurance coverage, denounced Anthem Blue Cross for the company’s latest rate increase proposal. Jones calls the rate increase “excessive” and “unreasonable.” In the past, rate increases have been targeted mostly at consumers, but the latest increase from Anthem Blue Cross is aimed at small businesses. Rate increase targets small…

Read More