California Insurance Commissioner Ricardo Lara decided Friday to provisionally grant State Farm General's request for a 22% hike in its homeowner insurance rates pending a formal rate hearing next month.

California insurance regulators have “provisionally approved” State Farm’s request for a massive rate hike for homeowners following the devasting Los Angeles wildfires.

California regulators have given State Farm General initial approval for a major home insurance rate hike later this year — but first, they want the insurer to pledge not to drop any more customers en masse.

Haden Kirkpatrick, a top State Farm executive, said he was fired after being recorded in an undercover video making disparaging remarks about Pacific Palisades homeowners.

A State Farm executive has been fired following the release of a recording where he said the company’s California rate hikes are “kind of” orchestrated, according to a Los Angeles Times story.

State Farm executives said at the meeting that it needs a 22% emergency rate hike in California to cover more than $7.9 billion in losses. Lara initially rejected the request, saying in a Friday, Feb. 14, letter to State Farm executives that he needed more information before he can approve an increase.

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 pu

A State Farm executive was fired over an undercover video of comments he made about the insurer's California rate hike request in the wake of the devastating Los Angeles area wildfires.

California Insurance Commissioner Ricardo Lara said today 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.