Tag: regulators

Are State Farm Rate Hikes Justified? What California Faces Without Them

Logan B.
State Farm California Property Insurance Increases Is it Justified

Is the State at the Mercy of Its Largest Property Casualty Company? The insurance industry in California has recently been shaken by the news that State Farm, one of the nation’s largest insurers, may pull out of the state and non-renew existing policies if they don’t get what they want. This potential move has sparked widespread concern among consumers and industry experts alike. What would be the consequences if State Farm were to follow through with this decision? And is the company justified in requesting significant rate increases given California’s…

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S&P’s downgrade could impact the nation’s insurance industry

S.Vagus

Recently, Standard & Poor’s (S&P), a major financial research and analysis company based in the U.S., downgraded the U.S. government debt. The firm now classifies the nation’s finances as having a “negative” outlook. S&P’s actions have spurred the nation’s insurance and finance companies to take another look at their practices and portfolios, keen to spot any compliance violations spawned from the downgrade. The search for such violations has been slow going so far, as the U.S.’ long-term ratings have never before been downgraded. The downgrade has left many major insurance…

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