A State Farm Mutual Automobile Insurance Co. unit won a dispute against a California cafe owner after a federal court said the insurer didn’t overcharge for business risk insurance premiums during the Covid-19 pandemic.
State Farm General Insurance Co. properly reduced insurance rates by following an order from California’s insurance regulator, and Boobuli’s LLC failed to show the insurer wrongly retained profits, the US District Court for the Northern District of California said Wednesday.
“State Farm’s filings with the California DOI showed that it experienced underwriting losses, not excessive profits, during the COVID Impact Period,” the court said, referring to ...
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