State Farm — Auto Rate Reduction in California & AM Best Gives the Company a Downgrade
Published November 24, 2025 at 2:13 PM · News Releases and Bulletins
State Farm Mutual Automobile Insurance wants an auto rate reduction averaging 6.2% in California. The company has sent that proposal to the California Department of Insurance and wants it to be effective on February 23, 2026.
The company says recent claims have been less costly.
That’s good news for Californians. At the same time, State Farm Mutual Auto got some bad news from AM Best. The ratings firm is dropping the company to A+ from A++.
Loss ratios in underwriting are one of the reasons.
Source link: Insurance Journal — https://bit.ly/3XfR6Sg
Source link: Insurance Journal — https://bit.ly/4ijK9Jr