State Farm exec fired over comments on premium hikes

Executive managers were launched for the giant country farm for this week after it was recorded on a secret video that provides comments about the distinguished increases of the insurance company in response to the fires of Southern California.

Haden Kirkpatrick, who worked as the Vice President of State Farm for Innovation and Investment Capital, was hidden in a video clip published by the O’keefe Media collection. The Los Angeles Times reported that he was claiming to be registered.

“Our people look at this and say,-, it is perhaps 5 billion dollars, and we are short if something happens.” We will go to the Ministry of Insurance and say: “We have been excessively here [rates]”Nah will say.” Kirkpatrick said: “Well, we will cancel these policies.”

He also said, “There should never be homes built in the first place,” in areas like Pacific Palisades due to the dangers of fire, saying that the population wants “natural areas around them for the sake” but the region is “F-the Desert, and therefore it dries and is the Tinder”.

Citorefornia requires approval of high prices after forest fires

The executive official of the state was dismissed due to the comments he made about the high prices in a secret registration. (Axelle/Bauer-Griffin/GC Images/Getty Images)

Kirkpatrick told the Times that he was shot by the company because of the notes that it had been recorded during the Tinder in January he believed it was prepared, but he refused to comment on the port.

“Any description of the state’s communications to the state farm regarding our price demand as” treatment “of the price process or the public is wrong. This person has never participated or has any responsibility for the work decisions related to the general state technology or its operations in California, including anything related to our suspended rate applications or requesting an overlapping emergency rate.”

He also participated publicly with regard to his comments: “These assurances are inaccurate and in no way represent the opinions of the state farm. It does not reflect our position on the victims of this tragedy, the commitment we have shown to the California people, or our employment practices throughout the company, “the statement continued.

American insurance rates rise and lawsuits play an important role

State Farm says her estimated losses from forest fires will be about $ 7.6 billion. (Frederic J. Brown / AFP via / Getty Images)

In early February, the state requested a farm in the emergency rate that would range from 22 % for California home owners’ insurance policies due to forest fires, saying that it paid more than a billion dollars to customers and will “in the end you will pay much more, as these fires will be the most disasters in the history of the state state state.”

The insurance company has noted that over the past nine years, State Farm General paid $ 1.26 for every one dollar of its premium – which led to cumulative subscription losses more than $ 5 billion. It was estimated that its direct losses from the Los Angeles region’s fires were about 7.6 billion dollars, including the amounts that are not reported and not reported, and paid $ 1.75 billion for 9,500 claims as of February 25.

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California Insurance Commissioner Ricardo Lara met with State Farm on February 26 after he initially refused to request the price of raising to allow the insurance company to explain the measures it has taken to improve its financial condition.

“The opportunity to repeat with Commissioner Lara ended in the urgency to agree to the temporary interest of the state in the State of State Farm so that the state of Stepet General can continue to help California clients,” State Farm said after her meeting.