WASHINGTON, DC – A new lawsuit filed by Oklahoma’s attorney general against Allstate Corp alleges the insurer ran a scheme to strip licensed adjusters of authority and lean on unlicensed reviewers to shrink storm-damage payouts and pad company profits. Unlocking America’s Future is calling on attorneys general, insurance commissioners, survivors, businesses, and others in states hit hardest by the home insurance crisis, including Florida, Texas, Louisiana, Iowa, California, and North Carolina, to open their own investigations into whether insurers operating there are engaged in similar practices.
The Oklahoma complaint lands as Weiss Ratings finds that 15 of the largest home insurers closed more than half of their claims in 2025 with no payout at all, even as Allstate’s own profits doubled to $3.8 billion in the fourth quarter of 2025.
“Oklahoma just showed everyone else exactly where to look and what to do to address home insurance corporations’ malfeasance and greed at homeowners and families expense,” said Kyle Herrig, spokesperson for Unlocking America’s Future. “Home insurers are telling regulators and elected officials they need higher premiums to survive while their own numbers show record profits and mass claim denials. Homeowners, businesses, officials, and survivors harmed by greedy home insurers now have everything they need to start holding these bad actors accountable, and they should.”
Home insurance corporations reaped record profits the last two consecutive years. In 2025, underwriting profits surged to almost $69 billion, a nearly 172% increase year-over-year. Worse, home insurance companies’ total policyholders’ surplus hit a new record of $1.27 trillion. Recent analysis by the Wall Street Journal also found home insurers now close nearly half of all claims without payment.
What UAF’s Research Has Already Found:
- Florida: Premiums have skyrocketed 54% since 2019 leading to the highest average premiums in the country, while insurers deny more than half of all claims and pay executives tens of millions in bonuses.
- Texas: Premiums have surged 55% over six years, and insurers deny nearly half of all claims, among the worst denial rates in the nation, while funneling hundreds of thousands of dollars to state lawmakers who’ve made those denials nearly impossible to challenge.
- California: Premiums are up 55% since 2019, more than 250,000 policies have been canceled as insurers pull out of the state, and the same companies claiming financial distress reported $25 billion in national underwriting profits.
- North Carolina: Premiums have climbed 38% since 2019, a “consent to rate” loophole lets insurers charge 55% of homeowners up to 250% of regulatory maximums, and insurers closed more than one in four Hurricane Helene claims without paying a dime.
- Iowa: Home insurance premiums jumped 28% in 2025 alone, the third-highest rate increase in the nation. Over just two years, the average Iowa homeowner has seen their premium climb 54%, to $2,802 a year.
- Louisiana: Insurance companies are taking advantage of Louisiana homeowners, raising premiums by 34.6% since 2019, canceling policies at five times the previous rate, and systematically denying legitimate claims even as they funnel hundreds of millions to shell companies.
Additional Resources:
- Insurers Score Record Profits While Consumers Pay
- Americans Pay More Than $1 Trillion in Insurance Premiums While Congressional Republicans in Florida and Texas Block Needed Reforms
- As Wall Street Journal Exposes Skyrocketing Home Insurance Premiums, UAF Reports Reveal Systemic Exploitation of American Homeowners
- NEW: Polling Shows Home Insurance Crisis Among Top Financial Concerns In States Impacted by Climate-Driven Extreme Weather
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