Judge orders State Farm to cut insurance rates, hold on refunds

Source: James Rufus Koren, L.A.Times (Paid Registration)

State Farm customers in California could soon be paying lower premiums for homeowners, condo and renters insurance but will have to wait for the outcome of a lawsuit to know whether they will also get refunds from the company.

A judge ruled late Friday that State Farm must abide by a state order to cut its premiums but can hold off on repaying customers for alleged overcharges as it challenges Insurance Commissioner Dave Jones’ authority to demand refunds under landmark insurance law Proposition 103.

Read Full Article: Judge orders State Farm to cut insurance rates, hold on refunds

 
 

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