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.

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.

In a customer advisory, State Farm revealed that so far it has received over 10,100 total home and auto claims and has paid out almost half a billion dollars to claimants. In the notice, posted on its web site, State Farm said it had made successful voice-to-voice contact with over 95% of customers who have filed homeowner claims.

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.

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.

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.

California paid $83.1 billion more in federal taxes than it received from the federal government — more than any other state — in 2022. When the state’s population is considered, California paid $2,129 more per capita in federal taxes than it received — which is more than all but three other states.

The Golden State is counting on 25 gigawatts, or about 13% of its electricity, from offshore projects by 2045.

California secession would not change the US into a laissez-faire paradise, but the positive change would be immense.

California sets record for health insurance enrollment as state residents take advantage of federal financial help.

What made the wildfires devastating was their path through the Palisades, where home values hover around $3.4 million and aging structures were tightly packed in a recognized high-risk fire zone.

As climate change complicates growing the region’s historically emblematic crops, like olives and lemons, Amata is seeing more farmers follow the same path. They are all “already starting to change from lemons to mangoes,” he said.