Big homeowner rate hike from State Farm shot down by California regulator
After the Los Angeles fires, State Farm asked for an “emergency” premium increase of 22% on average for California homeowners.
State Farm's "Emergency" Rate Hike Gets Cold Shoulder From Insurance Commissioner
After massive payouts from L.A. fires, California's largest insurer faces tough questions about its 22% premium increase request
Insurance commissioner rejects State Farm's request for 22% emergency rate hike
California's insurance commissioner turned down a request by State Farm General for an emergency 22% hike of its home insurance rates due to the Los Angeles wildfires, saying the increase wasn't warranted.
State Farm’s request for emergency California rate hike has been denied
In a rebuke to the state’s largest insurance company, California Insurance Commissioner Ricardo Lara announced Friday he will not grant State Farm General’s request for an emergency rate hike in the wake of the Los Angeles wildfires.
Insurance Commissioner rejects State Farm’s emergency rate hike request, calls for meeting with company reps
California Insurance Commissioner Ricardo Lara has rejected State Farm General’s request for a rate hike averaging 22% due to the company’s “dire” financial situation after the deadly and destructive L.
State Farm must wait on emergency home insurance rate increase bid after California wildfires
Insurance Commissioner Ricardo Lara said State Farm must answer more questions about its finances before the company can be approved for an emergency rate increase in response to the devastating fires in the Los Angeles area.
California Insurance Commissioner asks State Farm to justify 22% insurance rate increase
Commissioner Ricardo Lara scheduled a meeting with State Farm to hear their justification for the rate increase.
Insurance commissioner Lara Seeks meeting with State Farm on rate request
In a letter to the insurer, Lara said under Proposition 103, State Farm has the burden of explaining why the rate hike is ...
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Burned: “Good Neighbor” State Farm Seeks Huge Rate Hikes After L.A. Fires
Firefighters had barely achieved full containment of the blazes that leveled whole neighborhoods in Los Angeles before State ...
California seeks $1 billion from insurers to shore up FAIR Plan after LA fires
California Insurance Commissioner Ricardo Lara has requested $1 billion in additional funds from the commission's member ...
California Bill Would Force Insurers to Pay Full Coverage Without Requiring Itemization
A proposed new law would release homeowners from the onerous process of listing every object lost in a destroyed home.
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Revealed - insurers may recover up to half of $1B California FAIR Plan assessment
California property and casualty insurers may recover up to half of the $1 billion California FAIR PLAN assessment through a ...
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State Farm's emergency rate hike rejected by insurance commissioner
After State Farm, California's largest insurer, filed a request for an emergency 22% rate hike for homeowner policies, ...
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Lara takes action to ensure FAIR Plan can continue paying consumer claims after the Southern California wildfires
Ordering the insurance companies' FAIR Plan to continue swiftly paying claims to Southern California wildfire survivors, Insurance Commissioner Ricardo Lara today took action to maintain its solid ...
Insurance commissioner: Wildfire victims should be paid, without itemizing lost contents
Many Altadena and Palisades fire victims struggle to itemize the possessions they lost. Insurance Commissioner Lara says ...