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California

State Farm accused of funneling excess profits to parent as it seeks rate hike

State Farm is seeking a 30% rate hike, claiming its California unit is in financial trouble. Consumer Watchdog alleges the home insurer is hiding earnings.

By: Yahoo Entertainment

Nov 07 2024
12
4435 Views

State Farm accused of funneling excess profits to parent as it seeks rate hike — State Farm accused of funnelin

State Farm General, California's largest home insurer, is being accused of boosting the profits of its parent company at the expense of state policyholders while claiming it's in financial distress a… [+6383 chars]

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