California Insurance Commissioner Ricardo Lara says his office is investigating State Farm's handling of wildfire claims following the LA fires.
Lara announced Thursday that the California Department of Insurance has initiated a formal Market Conduct Examination of State Farm.
Of particular concern is how State Farm -- and other insurers -- has been handling smoke damage claims.
"Some troubling patterns that my staff will investigate include the frequent reassignment of multiple adjusters with little continuity in communication, inconsistent management of similar claims, and inadequate record-keeping or information-sharing among claims teams," Lara said in a statement.
No exact number of complaints filed against State Farm was revealed, but Lara's office stated they've received general allegations from wildfire survivor groups.
Lara noted that California's Department of Insurance has already recovered around $40 million for Eaton and Palisades fire survivors following inquiries into consumer complaints.
"Californians deserve to return to homes that are truly safe, not forced to handle smoke, soot, and ash on their own," Lara said in a statement.
State Farm and other insurance companies have paid out nearly $17 billion to policyholders who survived the Eaton and Palisades fires, according to Lara's numbers.
The investigation announced Thursday also comes a month after the insurance department approved a 17% increase in home insurance premiums following the LA fires.
Lara's office noted that a Market Conduct Examination usually takes several months to complete.
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