Latest news with #MerrittDavidFarren
Yahoo
21 hours ago
- Business
- Yahoo
State Farm Cites Newly Announced CDI Market Conduct Exam to Oppose Consumer Participation in Rate Hearing, Says Consumer Watchdog
LOS ANGELES, June 13, 2025 /PRNewswire/ -- At a hearing today before the California Department of Insurance, State Farm opposed Pacific Palisades homeowner Merritt David Farren's petition to participate in the ongoing rate review proceedings, citing the Department's newly announced market conduct examination of the company's claims handling practices following the January wildfires in Los Angeles. State Farm argued that allegations concerning its failure to properly pay wildfire claims were not relevant to its request for yet another rate hike—despite having already secured a 20% increase in 2024 and a 17% emergency interim increase earlier this year, which is now proposed to be folded into a larger 30% permanent increase. "State Farm wants to shut the public out because it argues a market conduct exam would take too long," said Ben Powell, a consumer protection attorney at Consumer Watchdog. "But just weeks ago, State Farm pushed the Department to approve an emergency rate hike with unprecedented speed—even though it hadn't submitted all the required information. When it comes to raising rates, State Farm demands urgency. But when it comes to protecting consumers, it wants regulators to slam on the brakes." Consumer Watchdog emphasized that Proposition 103 guarantees any member of the public the right to intervene in insurance proceedings—a safeguard designed to hold insurers accountable. "If the Department is willing to act quickly for insurers, it must act just as quickly to protect policyholders," Powell added. "No one should be excluded from this process—especially not consumers left without fair claim payments after the fires." Today's hearing concluded with the Administrative Law Judge taking the matter under submission. A decision on Mr. Farren's intervention petition is expected soon. View original content to download multimedia: SOURCE Consumer Watchdog Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
State Farm Cites Newly Announced CDI Market Conduct Exam to Oppose Consumer Participation in Rate Hearing, Says Consumer Watchdog
LOS ANGELES, June 13, 2025 /PRNewswire/ — At a hearing today before the California Department of Insurance, State Farm opposed Pacific Palisades homeowner Merritt David Farren's petition to participate in the ongoing rate review proceedings, citing the Department's newly announced market conduct examination of the company's claims handling practices following the January wildfires in Los Angeles. State Farm argued that allegations concerning its failure to properly pay wildfire claims were not relevant to its request for yet another rate hike—despite having already secured a 20% increase in 2024 and a 17% emergency interim increase earlier this year, which is now proposed to be folded into a larger 30% permanent increase. 'State Farm wants to shut the public out because it argues a market conduct exam would take too long,' said Ben Powell, a consumer protection attorney at Consumer Watchdog. 'But just weeks ago, State Farm pushed the Department to approve an emergency rate hike with unprecedented speed—even though it hadn't submitted all the required information. When it comes to raising rates, State Farm demands urgency. But when it comes to protecting consumers, it wants regulators to slam on the brakes.' Consumer Watchdog emphasized that Proposition 103 guarantees any member of the public the right to intervene in insurance proceedings—a safeguard designed to hold insurers accountable. 'If the Department is willing to act quickly for insurers, it must act just as quickly to protect policyholders,' Powell added. 'No one should be excluded from this process—especially not consumers left without fair claim payments after the fires.' Today's hearing concluded with the Administrative Law Judge taking the matter under submission. A decision on Mr. Farren's intervention petition is expected soon.
Yahoo
a day ago
- Business
- Yahoo
State Farm Cites Newly Announced CDI Market Conduct Exam to Oppose Consumer Participation in Rate Hearing, Says Consumer Watchdog
LOS ANGELES, June 13, 2025 /PRNewswire/ -- At a hearing today before the California Department of Insurance, State Farm opposed Pacific Palisades homeowner Merritt David Farren's petition to participate in the ongoing rate review proceedings, citing the Department's newly announced market conduct examination of the company's claims handling practices following the January wildfires in Los Angeles. State Farm argued that allegations concerning its failure to properly pay wildfire claims were not relevant to its request for yet another rate hike—despite having already secured a 20% increase in 2024 and a 17% emergency interim increase earlier this year, which is now proposed to be folded into a larger 30% permanent increase. "State Farm wants to shut the public out because it argues a market conduct exam would take too long," said Ben Powell, a consumer protection attorney at Consumer Watchdog. "But just weeks ago, State Farm pushed the Department to approve an emergency rate hike with unprecedented speed—even though it hadn't submitted all the required information. When it comes to raising rates, State Farm demands urgency. But when it comes to protecting consumers, it wants regulators to slam on the brakes." Consumer Watchdog emphasized that Proposition 103 guarantees any member of the public the right to intervene in insurance proceedings—a safeguard designed to hold insurers accountable. "If the Department is willing to act quickly for insurers, it must act just as quickly to protect policyholders," Powell added. "No one should be excluded from this process—especially not consumers left without fair claim payments after the fires." Today's hearing concluded with the Administrative Law Judge taking the matter under submission. A decision on Mr. Farren's intervention petition is expected soon. View original content to download multimedia: SOURCE Consumer Watchdog
