Californians on Edge as Judge Weighs State Farm’s Rate Hike Request The courtroom drama around State Farm’s emergency rate hike request might be finished, but the fallout is just beginning. After a high-stakes, three-day hearing in Oakland, the insurer, the California Department of Insurance, and advocacy groups are all waiting on an administrative law judge to decide if the proposed increases will formally take effect. And while this legal tug-of-war plays out, roughly three million California homeowners and policyholders are bracing themselves for what these changes might mean for their…
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AIG unit faces potential fines in California over management of fire claims
American International Group Inc. (AIG) subsidiary, New Hampshire Insurance Co., along with York Risk Services, its claims processing agent, are now facing citations for 125 violations connected with alleged improper handling of California wildfire related claims from 2008. According to California Department of Insurance (CDI) general counsel, Adam M. Cole, “The allegations in this case reflect a troubling lack of attention to consumer needs by New Hampshire Insurance Company.” CDI has stated that each of the various violations for which the insurer has been sited have to do with “an…
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