California’s Biggest Home Insurer Threatens to Leave State Unless Its Rates Rise
State Farm General has 20% market share, and said it “must seriously consider its options within the California insurance market going forward.”
California insurance commissioner rejects State Farm’s request for 22% rate increase
State Farm responded by saying that it “must seriously consider its options within the California insurance market going forward.”
Big Homeowner Rate Hike From State Farm Shot Down by California Regulator
California's insurance chief rejects State Farm's 'emergency' rate hike, setting stage for a crucial industry showdown.
Lara demands justification for State Farm rate hike
In a letter issued on Friday, Lara said State Farm’s request for an emergency interim rate increase can only be granted if the carrier can show why a price hike is necessary. A meeting is set for 26 February. State Farm has requested a rate increase from 1 May of 22% for non-tenant homeowners, 15% for tenants and 38% for rental dwelling.
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 needed now — which he says the company has “not met.”
California Rejects Insurance Company's Demand For Rate Hike
California's insurance commissioner has turned down a request for an emergency 22 percent hike in home insurance rates, following the Los Angeles wildfires.
State Farm responds to California Insurance Commissioner's denial of emergency interim rate request
State Farm pointed out that over the last nine years, the lack of alignment between price and risk means that for every $1 collected in premium, State Farm General paid
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, Insurance Commissioner Ricardo Lara rejected the company's request Friday.
California Bill Could Force Insurers to Change Payout Policies
Proposed legislation could force insurers in California to pay 100 percent of the coverage for belongings inside homes ...
Big CA insurance hike blocked for now
The state’s insurance commissioner blocked a State Farm request to raise rates as wildfire insurance claims continue to roll in.
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Insurance commissioner, legislative leaders join forces to introduce proposals for wildfire mitigation and recovery
Insurance Commissioner Ricardo Lara, along with several legislators, is advancing a comprehensive legislative package aimed at protecting wildfire survivors and improving preparedness for future ...
The Desert Sun6d
California homeowners will pay temporary fees to help pay for wildfire insurance claims
California Insurance Commissioner Ricardo Lara approved a plan to increase temporary fees for most California home and fire insurance customers to bail out the Golden State's last-resort fire ...
State Farm’s rate hike shot down by California regulator
California Insurance Commissioner Ricardo Lara rejected State Farm’s “emergency” premium increase of 22% on average for ...
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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 ...