State Farm partners up with an Arizona autonomous vehicle consortium

Autonomous vehicle - Arizona Gov. Doug Ducey

The partnership makes the insurer the first one to join forces with this automotive technology group. The Institute for Automated Mobility (I.A.M.) and State Farm Insurance have announced that they are entering into an autonomous vehicle partnership. The consortium was launched a year ago and was formed to move ahead the development of automated vehicles. The partnership represents the first entry of an insurer into this effort. Governor Doug Ducey made the first announcement of this new tech and insurance partnership. Arizona Governor Ducey made the announcement that State Farm…

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Insurance groups offer Texas storm preparedness tips for homeowners

Texas storm preparedness - storm destruction - homes

As the spring storm season gets fired up, insurers are hoping home insurance customers are ready. Texas storm preparedness can help to make a big difference in the risk of damage throughout the spring season. This year, insurance groups are offering policyholders added advice to help protect themselves against rains, winds and other severe weather risks. These helpful recommendations will reduce the risk of damage and make the claims process easier. The right Texas storm preparedness can make it possible for homeowners and vehicle owners to keep their property safe.…

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Allstate drops below third place in the auto insurance market

Auto Insurance Market - Allstate Drops in the auto insurance market - graph down trend

The car policy provider recently lost significant ground according to recent NAIC data. Allstate has lost its previous coveted spot in the auto insurance market. The insurance company had previously been in third place in the country. That said, the National Association of Insurance Commissioners (NAIC) released data showing the provider’s downward slide. Allstate was the third auto insurance company in the United States but fell to fourth place. The reduction of Allstate’s position in the auto insurance market occurred when its share dropped 0.43 points to control 9.29 percent…

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State Farm homeowners insurance not required to cut rates, says judge

State Farm homeowners insurance - State Farm Office

The California Department of Insurance has been fighting a legal battle with the insurer over premiums. The California insurance commissioner was wrong in saying that State farm homeowners insurance rates had to lower. A judge ruled that the insurer was not required to charge its home and renter policyholders less. The decision stepped around a current unresolved question regarding Proposition 103 and its reach. Proposition 103’s author was among those who criticized the decision regarding State Farm homeowners insurance rates. California Insurance Commissioner Dave Jones accused State Farm of profiting…

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Insurance drones will be broadly deployed by Hurricane Harvey claims adjusters

hurricane insurance drones

The use of these unmanned aerial vehicles has been adopted by Allstate, State Farm and other major property insurers. Property insurance companies in Texas and Louisiana, such as Allstate and State Farm, are preparing to use their insurance drones to survey the aftermath of Hurricane Harvey. This insurance technology is expected to have an important role in inspecting commercial and residential damage. The insurance drones will first take to the air early this week, once the last of Hurricane Harvey makes its way out of the regions. If all goes…

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State Farm homeowners insurance customers may soon receive a refund

State Farm homeowners insurance

The same may be said for many renters insurance policyholders in California. State Farm homeowners insurance and renters insurance customers in California may soon be receiving refund payments. The insurer is sending the checks to customers as a result of a decision made by the state Department of Insurance. The California Department of Insurance told State Farm it needed to repay policyholders due to excessive rates. The department deemed the rates charged to State Farm homeowners insurance and renters insurance customers to be excessive. As a result, about 250,000 policyholders…

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State Farm Insurance and other insurers slapped with Washington fines

state farm insurance and insurer fines

The state’s insurance commissioner has issued the penalties to brokers and agents as well. Washington Insurance Commissioner Mike Kreidler has slapped State Farm Insurance, other insurers, agents and brokers with a number of fines throughout January. These fines totaled $15,000 and were issued for having violated the state’s insurance industry regulations. The largest fines the commissioner doled out were to State Farm Fire & Casualty Co. from Bloomington, Indiana. State Farm Insurance saw two thirds of the total fines from the Washington insurance commissioner. They were ordered to pay $10,000…

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