Big Homeowner Rate Hike from State Farm Shot Down by CA Regulator
In the wake of the Los Angeles wildfires, State Farm asked for an “emergency” premium increase of 22% on average for California homeowners. Lara today denied the request pending more information.
CA Insurance Commissioner rejects State Farm’s emergency 22% rate hike request – for now
State Farm wants CA's Insurance Commissioner to approve an emergency 22% increase on homeowners insurance. The commissioner says no, for now. He needs more info.
California rejects State Farm's request for 22% rate hike
The California insurance commissioner on Friday rejected State Farm's request for a temporary 22% rate hike for homeowner policies, as the company deals with claims from the Southern California wildfires.
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.
California regulators reject — for now — State Farm’s emergency rate hike request
California insurance regulators are demanding that State Farm answer “critical questions about its financial condition” in response to the company’s request for emergency approval of a steep rate hike for homeowners in the wake of the Los Angeles wildfires.
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.
State Farm's request for 22% rate hike raises 'serious questions,' state commissioner says
After State Farm filed a request for a 22% rate hike for homeowner policies, Insurance Commissioner Ricardo Lara requested a meeting with the company so they can explain their need for such an increase.
California Insurance Commissioner demands more answers from State Farm on proposed rate hike
State Farm submitted a request for an emergency interim rate, which would have increased costs by 22% for some homeowners.
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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