Months before the Los Angeles wildfires sparked, State Farm’s California arm was already in trouble, it told state regulators. Its policyholder surplus — the cash it has on hand to pay out claims — had dropped from more than $4 billion in 2016 down to just $1.
The iconic actor who plays “Jake from State Farm” has been attacked online after the insurance agency canceled policies just before the California wildfires. The Daily Mail reports that the actor has been targeted after State Farm cancelled fire insurance policies just months before the deadly fires.
State Farm said it was backing out of its plan to air an ad during the upcoming Super Bowl due to the wildfires in Southern California.
State Farm, the largest property insurer in California, has canceled its Super Bowl ad because it is focused on responding to the "tragedy" of the LA fires.
Following its announcement that it would pause non-renewals for policyholders to ensure coverage for Los Angeles County residents impacted by wildfires, State Farm on Thursday, Jan. 16, reported receiving 7,850 home and auto claims with numbers expected to rise as damages are assessed.
State Farm is canceling a planned commercial by the insurance giant set to run during the 2025 Super Bowl next month, citing the impact of the Los Angeles area wildfires. "Our focus is firmly on providing support to the people of Los Angeles.
State Farm, long a stalwart of Super Bowl advertising, announced it was pulling an ad from next month's big game.