In the wake of the Los Angeles fires, State Farm asked for an "emergency" premium increase of 22% on average for California homeowners. Lara today denied the request pending more information.
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BLOOMINGTON ( 25News Now) - California Insurance Commissioner Richardo Lara on Friday refused to grant State Farm’s request for an average 22% emergency rate increase for homeowners’ insurance. Lara ...
In a letter to the insurer, Lara said under Proposition 103, State Farm has the burden of explaining why the rate hike is ...
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State Farm submitted a request for an emergency interim rate, which would have increased costs by 22% for some homeowners.