Bloomington-based State Farm said it will not be advertising during the Super Bowl on Feb. 9 as originally planned, due to the wildfires in California.
Sources told this publication that the mutual is facing a loss totalling around $7.91bn from the fires, and it is understood that State Farm benefits from around $2.5bn-$4bn of reinsurance cover specifically for Californian risks above an attachment point of $1.5bn.
Southern California is facing fierce fires fueled by the Santa Ana winds, which threaten homes and put firefighters to the test.
More than an inch of rain fell in parts of Los Angeles Monday afternoon, triggering flash flood watches and warnings in areas scorched by this month's wildfires.
One of President Trump's first executive orders threatened to withhold federal funding from so-called sanctuary states and cities. California is one of them.
The Santa Ana winds are dry, powerful winds that blow down the mountains toward the Southern California coast. The region sees about 10 Santa Ana wind events a year on average, typically occurring from fall into January. When conditions are dry, as they are right now, these winds can become a severe fire hazard.
State Farm said that it has paid out close to $500 million in claims following the wildfires that have ravaged the Los Angeles region. As of Jan. 27, the company has processed a total of 10,100 claims for home and auto damage resulting from the fires.
How the team at Jigsaw Farms came together to save 54 horses during the Pacific Palisades fire in L.A., then lost their entire farm in the blaze.
F# K You ⁦@statefarm⁩ Screw You And All Your Phoney Commercials!! You Are A Pile Of Crap For Canceling Insurance Policies Of Californians! I Will Never Use @statefarm Insur
As of Friday, State Farm said they received over 9,800 home and auto claims. The insurer said they have called or contacted 95% of people who filed claims and paid out $300 million so far. A spokesperson in California recalled the devastation she’s already seen.
Under racial capitalism, land is treated as nothing more than a natural resource to be extracted, and violence is committed against the climate and the