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The Latest Breaking News from State Farm

More evidence that car insurance pricing in Illinois is biased against the poor

A new study backs up a Sun-Times Watchdogs report and comes as rates across the state continue to skyrocket. The study found that bad credit means you pay more for car insurance.

Chicago Sun-Times

Is Your Insurance Coverage Up to Date?

Costs are rising to repair or replace your most valuable assets. Make sure your home and vehicles are adequately insured.

Kiplinger

How climate change could cause a home insurance meltdown

It's increasingly expensive and difficult to get home insurance, as losses rise from climate-driven disasters such as wildfires and hurricanes. And the solutions aren't always politically popular.

WEKU

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A State Justice Criticizes S. Ct.'s Constitutional Punitive Damages Caselaw

From Pennsylvania Supreme Court Justice David Wecht's concurrence yesterday in Bert Co. v. Turk (and see here for Justice Wecht's broader discussion of unenumerated rights): … While I have significant doubts about much of the jurisprudence that controls the present inquiry and that assigns punitive damage awards a federal "constitutional…

Reason

State Farm stopped insuring California homes due to climate risks. But it shares lobbyists with big oil

Allstate, too, has pulled out of climate disaster-prone areas while hiring lobbyists who are also aligned to fossil fuel interests

The Guardian - US

2023 Nikola Jokic All-Taco Bell Team: 9 players selected during NBA Draft commercials

9 players were selected during a commercial break in the 2023 NBA Draft. Is the next Jokic among them?

USA Today Sports Media Group

Scoot Henderson, Gradey Dick Turn Heads at NBA Draft With Audacious Suits

Two top NBA Draft prospects set the red carpet ablaze with their choice of stylish outfits.

Sports Illustrated

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The best 2023 NBA Draft red carpet outfits, including Victor Wembanyama’s sharp green suit

Check out the best outfits at this year's 2023 NBA Draft.

USA Today Sports Media Group

Column: State Farm is right. California can’t keep building housing in high-risk places

Back in January, on a dark night of pelting rain, Erica Lopez Bedolla had only minutes to evacuate her family from the impoverished Central Valley town of Planada after a levee broke.

Los Angeles Times

California lets Allstate hike rates — but insurer still won’t write new home policies

Allstate has received California’s blessing to raise homeowner insurance premiums 4%, but the state’s fifth largest home insurer said it has no plans to reverse its decision last fall to stop writing new policies.

Tribune News Service

Can insurance come to our climate rescue?

California's fall from grace has been steep and swift, and now even the insurance companies are pulling out. The two biggest American home insurance companies, State Farm and Allstate, announced last week that they will stop selling insurance policies to Californians. Why? Climate change-related wildfires are making it too risky…

Bangkok Post

Why insurance companies are pulling out of California and Florida, and how to fix some of the underlying problems

When the nation’s No. 1 and No. 4 property and casualty insurance companies – State Farm and Allstate – confirmed that they would stop issuing new home insurance policies in California, it may have been a shock but shouldn’t have been a surprise. It’s a trend Florida and other hurricane-…

The Conversation

Climate risks have made California uninsurable. When will we wake up?

State Farm will almost entirely stop issuing new policies in California – with climate-exacerbated wildfires and bad public policy a large reason why

The Guardian - US

Uninsurable America: Climate change hits the insurance industry

The threat of climate change-related disasters is a large factor driving up consumer costs and putting insurers out of business.

Axios

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The Independent UK

California insurance market rattled by withdrawal of major companies

Two insurance industry giants have stepped back from the California marketplace

Reason

California Regulations Prevent Insurers From Accurately Pricing Wildfire Risk, so Now They're Fleeing the State

California homeowners are finding out that government-imposed market distortions cannot be maintained forever.

Axios

Insurer cites "growing catastrophe exposure" as it stops new sales in California

7,490 wildfires razed 362,455 acres and killed nine people last year, per Cal Fire.

WEKU

State Farm has stopped accepting homeowner insurance applications in California

The announcement is the latest development in what has been a years-long issue in California: insurance companies dropping homeowners because of the growing risk of wildfires.

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The Guardian - US

Insurance giant halts sale of new home policies in California due to wildfires

State Farm also cites inflation of construction costs in statement which comes after increasing wildfires in state

Broadcasting & Cable

Scripps Signs State Farm as Title Sponsor of WNBA Games on Ion

First game airs Friday

Chicago Sun-Times

Car insurance prices soar in Illinois, Rep. Will Guzzardi aiming to crack down on insurers

Chicago rep wants to require getting prior state approval for rate hikes, ban “excessive” increases and outlaw consideration of gender, occupation and credit scores in car insurance pricing.

WEKU

Dealers still sell Hyundais and Kias vulnerable to theft, but insurance is hard to get

Some insurance companies have stopped issuing new policies for models that are subject to a high rate of thefts, but consumers are still able to buy the cars.

Tribune News Service

Who says Florida property insurers aren’t taking new customers? See whether yours added or subtracted policies

Apparently not all Florida-regulated property insurance companies are too financially troubled to take on new customers.

Tribune News Service

Historic rain and flooding results in 820 auto insurance claims in Florida so far — and that’s just one company

Auto insurance claims are already being reported by South Florida residents whose vehicles were inundated by this week’s historic flooding.

The Denver Post

Thefts of Kias, Hyundais in Colorado chase away auto insurance companies

With car thefts spiking in Colorado the past few years, three auto insurance carriers are now declining to cover certain vehicles, leaving at-risk owners with fewer options.

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