WASHINGTON, Oct. 5 -- The Senate Committee on Banking, Housing & Urban Affairs issued the following news release:
U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, and Senator Josh Hawley (R-Misso.) wrote to executives of State Farm, Allstate, USAA, Farmers, Liberty Mutual, and American Family, raising serious concerns about reports that an unprecedented share of homeowners and auto insurance claims are being closed without payment to policyholders.
In May, The Wall Street Journal reported that Americans "face a near flip-of-the-coin chance that their home insurer will pay a claim." The report found that the five largest home insurers failed to pay out on over 44% of claims...