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Senior State Farm exec sacked after honey trap sting over California wildfires

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Senior State Farm exec sacked after honey trap sting over California wildfires

The footage, reportedly filmed without the executive’s knowledge, shows Haden Kirkpatrick, former vice president of innovation and venture capital at State Farm, discussing how the company allegedly uses policy cancellations as leverage to gain approval for rate increases. “We go to the Department of Insurance and say, ‘We’re overexposed here. You have to let us catch up our rating,’” Kirkpatrick said in the video. “And they’ll say, ‘Eh.’ Because the Department of Insurance and the insurance commissioner is an elected position in California. He’ll say, ‘Nah.’ And we’ll say, ‘OK, then we are gonna cancel these policies.’”

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