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Article: State Farm sues on $172M Calif. rebate order. (State Farm Mutual Automobile Insurance Co.)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- May 6, 1996
CopyrightCOPYRIGHT 1996 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO--State Farm Insurance, California's largest property-casualty insurer, has filed a Superior Court lawsuit challenging Commissioner Charles Quackenbush's order requiring the company to pay $172 million in Proposition 103 rebates and accrued interest.
The Bloomington, Ill.-based carrier's action, not unexpected, is the latest in a series of legal skirmishes involving the company's rebate liability that includes years of hearings, administrative court decisions and regulatory rulings. The suit was filed April 25. A hearing has not yet been set.
Under Prop. 103, the 1988 voter-approved ballot initiative, insurers were required to roll back rates by ...