California's insurance regulator has opened an investigation into State Farm, focusing on claims handling following devastating wildfires in January that led to significant damages and losses. Thousands of victims have reported delays and mishandling of claims, including concerns over contamination from smoke. Insurance Commissioner Ricardo Lara emphasized the need for proper treatment and support for the affected individuals. State Farm acknowledged the issues and reported processing over 13,000 claims and paying about $4 billion to customers, while expressing their commitment to helping victims recover from the catastrophic event.
California Insurance Commissioner Ricardo Lara stated that Californians deserve fair and comprehensive treatment from their insurance companies, emphasizing they should not endure uncertainties post-disaster.
State Farm, with around 1 million California home insurance customers, has received approximately 13,000 claims related to the wildfires and has paid out around $4 billion.
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