State Farm is facing a rising tide of new scrutiny amid wildfires ripping through whole communities in Los Angeles. The insurer ended coverage for thousands of homes in the Pacific Palisades months before the disaster ruthlessly claimed swaths of homes, schools, houses of worship, and at least 10 lives.
Now, consumers and watchdogs have a gimlet eye trained on the executive team’s next move, putting CEO Jon Farney in an unenviable hot seat. Farney took the helm in June after former CEO Michael Tipsord retired. Farney was not yet CEO when the insurer decided to no longer accept homeowners’ applications in California or end coverage for thousands of homes, but he is a 30-year veteran of the company and has served in multiple executive roles.
