Tag: insurance sustainability

California’s Insurance Dilemma Deepens Amid State Farm Rate Hike Drama

Angela Linders
State Farm Logo on Building

How a Video and a Rate Hike Request Could Reshape California’s Insurance Market State Farm is under fire after a Consumer Watchdog letter to California Insurance Commissioner Ricardo Lara put the spotlight on controversial tactics allegedly used to justify a proposed emergency 22% rate hike. At the heart of the controversy is a video recording of Haden Kirkpatrick, State Farm’s Vice President of Innovation and Venture Capital, whose candid comments stirred public concern and prompted his dismissal from the company. Captured on Camera: A Rare Glimpse Behind Closed Doors The…

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Why Louisiana Is One of the Most Expensive States for Insurance

Live Insurance News
Louisiana - the Most Expensive States for Insurance

Legislative Efforts in 2024 Signal Progress, but Challenges Remain Louisiana’s insurance market has long been fraught with challenges, and while legislative reforms in 2024 represented a step toward stabilizing the market, deeper systemic issues still require attention. According to the Insurance Information Institute’s (Triple-I) recent report, Trends and Insights: Louisiana Insurance Market, residents continue to face some of the highest auto and homeowners insurance costs in the nation. Triple-I’s findings revealed striking numbers that underscore this affordability crisis. For auto insurance, the average annual expenditure in Louisiana stood at $1,588…

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