Los Angeles County Officials Probe State Farm Wildfire Payouts

State Farm has paid out over $5 billion to victims of the wildfires that hit areas around Los Angeles in January of this year. In spite of that, the Los Angeles County Counsel wants to investigate accusations of delays, underpayments and accusations of denying legitimate claims.

The focus is the Easton and Palisades fires with the county counsel contending State Farm may have violated California’s Unfair Competition Law.

Los Angeles County Board of Supervisors Chair Kathryn Barger said her department has “heard loud and clear from wildfire survivors that State Farm’s delays are standing in the way of rebuilding.”

She also noted “fair and timely insurance payments aren’t a privilege; they’re a right” and that the insurer “must act quickly so survivors can rebuild their homes and their lives.”

State Farm doesn’t see a problem and said it paid $2.45 billion for 12,200 claims.

“Recovery, following a catastrophe, doesn’t move in a straight line,” State Farm said. “Many families are engaged in the process of rebuilding and recovering from the devastation and many families continue to navigate through parts of the claims process, with State Farm trying to address the needs of their unique circumstances.” Source link: Insurance Business America — https://bit.ly/44zVMX8