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Judge Enforces California Insurance Commissioner Dave Jones' Order; State Farm Must Reduce Rates
By Lonce LaMon with the California Department of Insurance News Release - December 19, 2016

Insurance Commissioner Dave Jones issued the following statement on Sunday, yesterday, after the San Diego Superior Court partially denied State Farm's emergency request to stay a November order issued by Jones that directed State Farm to reduce its homeowner and renter rates by an average of seven percent, or $84 million over the next year. The decision, partially denying the request for a stay, means State Farm must decrease its rates, pursuant to Commissioner Jones' order.

"I am very pleased that the court denied State Farm's attempt to overturn my order requiring State Farm to reduce its rates going forward. I look forward to having my team work with the court to craft an order that requires State Farm fully identify the rate payers so that State Farm is actually able to issue rebates, totaling $110 million when this case is concluded. I am confident that we will convince the court that excessive rates are unlawful under Proposition 103 and State Farm consumers are entitled to rebates totaling more than $110 million.

State Farm's lawsuit is an attempt to weaken consumer protections provided by Proposition 103 while simultaneously continuing to overcharge consumers. Policyholders should not be forced to pay excessive rates or be denied the $110 million rebate to which they are entitled.

The court's ruling is an important win for all consumers, It is also an important affirmation of my authority under Proposition 103 to protect consumers from excessive rates.

The legal battle with State Farm is not over. We will have the opportunity to persuade the court to uphold my order requiring State Farm to issue rebates and State Farm will no doubt continue to argue that the court should overturn my order reducing State Farm rates. I will continue to stand up for California consumers and require auto, home and property and casualty insurers to reduce excessive rates."

The commissioner's rate-order went into effect December 13, 2016.

 

lonce@adjustercom.com; Lonce LaMon, journalist 

 
 

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