California, State Farm

California regulator mulls State Farm's request for 22% premium hike for homeowners after LA fires
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 public hearing.
State Farm can hike rates on California homeowners — if it pauses cancellations and proves need
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.
California insurance commissioner approves State Farm rate hike — with conditions
Insurance Commissioner Ricardo Lara said Friday he will approve State Farm’s request for an emergency rate increase, but only if the company’s California arm can justify its need for it at a public hearing next month.
State Farm executive fired over comments on premium hikes after California wildfires
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 chief says he’s near ‘solution’ on State Farm rate hike
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.
State Farm VP fired after video released of him ‘kind of’ discussing orchestrated California rate hikes
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 executive fired over comments about rate hikes
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.
State Farm exec fired over jaw-dropping comments about LA wildfire victims in secret recording
A State Farm executive has been fired after he was secretly recorded alleging that the insurance company hiked rates for California homeowners reeling from the devastating Los Angeles wildfires. Haden Kirkpatrick,
California approves State Farm's emergency home insurance rate hike — with conditions
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.
State Farm’s California Insurance Crisis Came After Rapid Growth
It grew into the state’s largest home insurer by writing policies with low premiums and inadequate reserves for the risks it ...
Insurance Business America1d
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 MSN3d
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 ...