California regulators want to suspend State Farm’s license for up to a year and levy the largest penalty ever against a state insurer, alleging it mishandled wildfire claims in Los Angeles County.
The Department of Insurance said it will file an administrative action against the state’s largest home insurer after an investigation into 220 sample claims found 398 violations of state law in about half of them.
This could result in the insurer losing its ability to sell insurance in California for up to a year…