State Farm accused of funneling excess profits to parent as it seeks rate hike
Headquarters for State Farm in Bloomington, Ill. (Daniel Gaines/Los Angeles Times) State Farm General, California’s largest home insurer, is being accused of boosting the profits of its parent company at the expense of state policyholders — while claiming it’s in financial distress and in need of a 30% rate hike. The company bought hundreds of … Read more