State Farm's emergency California rate hike denied

Insurance commissioner rejects State Farm's request for 22% emergency rate hike
Insurance Commissioner Ricardo Lara on Monday rejected State Farm General's request for an emergency 22% home insurance rate hike due to the Los Angeles fires unless the insurer can provide more evidence it is warranted.
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.
State Farm asks for insurance rate hike of 22 percent after L.A. fires
State Farm wrote in a letter on Monday that the recent fires in Los Angeles threaten its finances and are “the costliest in the history of the company.”
State Farm asks for 'emergency' 22% homeowners' insurance rate hike in wake of LA wildfires
You could face a 22% rate hike if State Farm covers your home. The company sent a letter to the California Dept. of Insurance Monday warning of its "dire" financial situation in the wake of the Los Angeles County wildfires - requesting an "emergency" rate hike.
State Farm requests 22 percent emergency rate hike after LA fires
State Farm on Monday requested California state officials approve an emergency interim rate increase, averaging 22 percent for homeowners in the Golden State. Rental dwelling policies would also face an increase, 38 percent, while tenants would see a 15 percent hike. All changes would be effective May 1 if approved, multiple outlets report.
State Farm asks California to approve rate hikes after wildfires
State Farm is asking California's insurance regulator to approve an emergency rate hike due to the number of claims it received after last month's devastating wildfires.
State Farm proposes home insurance price hike after $1 billion spent on LA fire claims
State Farm argued the rate hikes are justified due to the high risks the company has underwritten, particularly after premiums were kept artificially low.
State Farm Seeks an Urgent Increase in California Rates After Fires
State Farm has received more than 8,700 claims from the Los Angeles fires alone and paid more than $1 billion to customers, according to the company. The insurer expects to pay out significantly more, and the fires will be the costliest in the history of State Farm, the company said.
State Farm looking to increase rates for homeowner policies by 22% following LA fires
State Farm filed a request with the state Monday for an emergency 22% rate hike for homeowner policies, calling the increase essential to stave off a "dire situation" for customers and the insurance industry in the state.
State Farm Asks for 'Emergency' Insurance Rate Increases After LA Fires
State Farm seeks urgent insurance rate increases, citing financial strain from LA fires and market challenges.
State Farm's emergency California rate hike denied as insurance official demands proof of need
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.
Capital & Main4h
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 ...
The Cool Down on MSN3d
Devastated couple claims State Farm canceled home coverage before wildfire hit: '25 years in premiums on this house'
It’s just an injury on top of an injury." Devastated couple claims State Farm canceled home coverage before wildfire hit: '25 years in premiums on this house' first appeared on The Cool Down.