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Company: State Farm
Current Parent Company:
State Farm Insurance
Parent at the Time of the Penalty Announcement:
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Penalty: $13,335,701
Year: 2017
Date: May 11, 2017
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: The California Insurance Commissioner announced that State Farm issued refunds totaling $13,335,701 for overcharged premiums to 241,356 California consumers, finally complying with the Commissioner's rate reduction order after losing twice in court.
Level of Government: state
Action Type: agency action
Agency: California Department of Insurance
Civil or Criminal Case: civil
Facility State: California
HQ Country of Current Parent: USA
HQ State of Current Parent: Illinois
Ownership Structure of Current Parent: mutual
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
Update Log.