Insurance commissioner 'provisionally' grants State Farm's 22% rate hike
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.
State Farm emergency rate hike will have public hearing
While the 22% average increase for homeowners insurance is provisionally approved by California's regulator, the carrier will have to get capital from its parent company to help cover its risks.
State Farm home insurance rates set to soar again in Bay Area
California's insurance chief gives green light to major rate hike for State Farm homeowners, but with some concessions attached.
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’s 22% rate increase gets tentative OK from California insurance chief
Commissioner Ricardo Lara Lara wants the insurance giant to present evidence justifying the increase at a public hearing April 8.
State Farm can hike rates on California homeowners — if it pauses cancellations and proves need
If State Farm is successful at proving its need for rate hikes at next month’s hearing, its interim rates will climb on June 1 an average 22% for homeowners, 15% for renters and condos, and 38% for rental dwellings.
State Farm's CA rate increase gets provisional approval, pending public hearing
California’s insurance commissioner will approve State Farm’s rate increase request, if the company justifies the increase at a public hearing.
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 pu
California Homeowners Face Major Rate Hike: 'Unprecedented'
The California Department of Insurance on Friday announced it had provisionally approved an emergency request by State Farm, the state's largest single insurer, to raise its home insurance premiums by 22 percent provided the company can "justify it with data in a public hearing" next month.
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 bringing data to a public hearing on April 8.
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.
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State Farm Requests Emergency 22% Rate Increase Following Los Angeles Fires
State Farm General, California’s leading home insurance provider, has formally requested an emergency rate hike averaging 22% ...