AM Best revises State Farm outlook to negative on auto, cat and regulatory challenges
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AM Best revises State Farm outlook to negative on auto, cat and regulatory challenges

Jairo Ibarra
September 25, 2023
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AM Best has revised State Farm’s outlook to negative from stable, citing adverse underwriting experience in the personal auto sector and a challenging regulatory environment affecting the ability of all insurers to implement timely rate hikes.

The ratings agency said that, in addition to regulatory challenges, the negative outlook reflects continued elevated catastrophe-related loss experience in many parts of the country.

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Jairo Ibarra
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