California insurance commissioner meets privately with State Farm, hopes to make rate hike decision within 2 weeks
Ricardo Lara said he will look at information provided by State Farm before revisiting his previous decision to reject the company’s emergency rate hike.
California insurance regulators urge State Farm to expand coverage in exchange for rate hikes
Earlier this month, State Farm — the state’s largest home insurance provider — asked the California Department of Insurance to approve statewide rate increases averaging 22% for homeowners. It also requested a 15% increase for renters and condo owners and a 33% hike for rental owners.
Consumer Watchdog Opposes State Farm's Emergency Rate Hike Following Meeting With Insurance Commissioner Lara
"If State Farm were truly in crisis, it had ample time to act with urgency," said Pamela Pressley, Senior Staff Attorney at Consumer Watchdog. "Instead, it stalled, then declared an emergency at the last minute to pressure regulators into approving unjustified rate hikes."
California insurance commissioner meets privately with State Farm, promises rate hike decision within two weeks
Ricardo Lara said he will look at information provided by State Farm before revisiting his previous decision to reject the company’s emergency rate hike.
California Insurance Commissioner meets with State Farm regarding rate hike request
California Insurance Commissioner Ricardo Lara, representatives from State Farm General and Consumer Watchdog, a consumer advocacy group, met in person on Wednesday to discuss the insurance company’s recent price hike request.
Santa Rosa Press Democrat1h
California to consider State Farm emergency rate increase request
Commissioner Ricardo Lara had asked for the meeting in which he and Consumer Watchdog will sit down with State Farm reps in ...
State Farm faces more than $600M in losses from LA wildfires
Insurer estimates $7.6 billion to settle its wildfire claims, mostly paid by reinsurance provided by its parent company.
State Farm says LA wildfire losses total $7.6 billion
State Farm General said it will pay $7.6 billion to settle claims from last month’s firestorms in the Los Angeles area.
Insurancenewsnet.com5h
California Matters: Los Angeles wildfires intensify political jousting over home insurance premiums
The horrendously destructive and deadly Los Angeles wildfires erupted in January just as Insurance Commissioner Ricardo Lara's historical and very controversial overhaul of how insurers calculate ...
Hosted on MSN15h
California official makes $1 billion request in wake of wildfires — here's why the funds are needed
"The FAIR Plan paid out $914 million." California official makes $1 billion request in wake of wildfires — here's why the ...
Farmers announces initial $600-million loss for Los Angeles fires
Farmers Insurance said claims from the Los Angeles fires will cost it at least $600 million, a substantially smaller initial ...
Opinion Columnists
State’s commissioner juggles often-conflicting goals of protecting homeowners and stabilizing the insurance market.
State Farm reports staggering insurance losses from Los Angeles wildfires
State Farm General, California’s largest home insurer by far, estimates it will pay $7.6 billion to survivors of the Los ...
State Farm says it will pay $7.6 billion for L.A. fires but reinsurance will slash losses
State Farm General, California's largest home insurer, estimates it will pay $7.6 billion to settle its Los Angeles fire ...