California Insurance Commissioner Ricardo Lara rejected State Farm’s “emergency” premium increase of 22% on average for California homeowners.

The insurer had sought approval for an emergency rate hike in the wake of LA fires, which led to the call for a meeting on its viability

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

Commissioner Ricardo Lara scheduled a meeting with State Farm to hear their justification for the rate increase.

After massive payouts from L.A. fires, California's largest insurer faces tough questions about its 22% premium increase request

California Insurance Commissioner Ricardo Lara on Friday rejected State Farm’s request for “emergency” rate increases that would have averaged 22% for homeowners.

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 Insurance Commish Ricardo Lara has turned down a request by State Farm General to raise home insurance rates by an average 22%.

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