State Farm Can Hike Rates on California Homeowners, If It Pauses Cancellations and Proves Need
California Insurance Commissioner Ricardo Lara said Friday that he will grant State Farm’s request to raise home insurance premiums by 22% on average if the company agrees to certain conditions -- and wins approval at a public rate hearing next month.
California insurance commissioner "provisionally" approves State Farm 22% rate increase
California Insurance Commissioner Ricardo Lara announced Friday he has "provisionally" approved State Farm's rate hike of 22% as the company reports dealing with financial struggles stemming from the Los Angeles wildfires.
Insurance Commissioner Lara ‘Provisionally’ Agrees to State Farm’s 22% Rate Hike
California Insurance Commissioner Ricardo Lara “provisionally” approved State Farm General’s request for an emergency 22% increase in its homeowners insurance rate Friday — but only if the company can justify it with data in a public hearing scheduled for next month.
California approves State Farm’s 22% insurance rate hike with conditions
The California Department of Insurance has been under pressure to stabilize the market, introducing new rules that allow insurers to factor in future climate risks when setting ra
California Insurance Chief Backs 22% State Farm Rate Hike
California Insurance Commissioner Ricardo Lara said he plans to approve a 22% emergency rate increase for State Farm policyholders, pending a public hearing next month, in a move aimed at stabilizing the state’s insurance market after the Los Angeles area’s devastating wildfires.
California regulator mulls State Farm’s request for 22% premium hike for homeowners after LA fires
California's top insurance regulator says he will approve an emergency request from State Farm to raise home insurance rates for roughly a million customers if the company can justify the hike at a public hearing.
State Farm can now hike rates on California homeowners. Here are the conditions
California Insurance Commissioner Ricardo Lara said Friday he will grant State Farm’s request to raise home insurance premiums by 22% on average if the company agrees to certain conditions — and wins approval at a public rate hearing next month.
Insurance commissioner 'provisionally' OKs State Farm's 22% hike
California Insurance Commissioner Ricardo Lara on Friday “provisionally” approved a 22% emergency increase for State Farm homeowners
Insurance Commissioner ‘provisionally’ accepts State Farm’s 22% rate hike
California Insurance Commissioner Ricardo Lara has provisionally accepted State Farm General’s request for an emergency 22% rate hike. State Farm, the state’s largest home insurer, made this request due to the company’s “dire” financial situation after the deadly and destructive Los Angeles County wildfires.
California Approves State Farm’s Emergency Rate Increase on Homeowners
The approval comes months after devastating wildfires, and will add an average $600 a year to homeowners’ bills.
California insurance commissioner OKs State Farm rate hike, pending vote
State Farm made its request following years of losses and huge damage claims it has received following the Jan. 7 fires.
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For Insurance Commissioner Ricardo Lara, approving an emergency 22% rate hike request by State Farm would raise bills for ...