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California insurance commissioner OKs State Farm rate hike

CBS News on MSN · 16h

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.

Bloomberg on MSN · 15h

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.

The Press Democrat · 9h

State Farm can hike rates on California homeowners — if it pauses cancellations and proves need

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.

13hon MSN

California Allows State Farm’s Emergency 22% Hike in Homeowner’s Insurance Rates

California’s insurance commissioner said his approval was conditioned on State Farm justifying its need for the increase by ...

Insurance Business America2d

State Farm tells Lara that it "doesn't make sense" to issue new policies in California

With Lara expected to issue a decision on State Farm’s request imminently, homeowners, insurers, and policymakers are bracing ...

LAist on MSN4d

Climate politics and insurance intertwine, giving California official a no-win choice on State Farm

For Insurance Commissioner Ricardo Lara, approving an emergency 22% rate hike request by State Farm would raise bills for ...

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