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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
  • 319 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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