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 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.
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.
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 Oakland.
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."
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.
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Asm. Schiavo Requests Insurance Protections For Hughes Fire Survivors
In response to advocacy from Assemblywoman Pilar Schiavo’s office, yesterday California Insurance Commissioner Ricardo Lara ...
Opinion Columnists
State’s commissioner juggles often-conflicting goals of protecting homeowners and stabilizing the insurance market.
California bills encourage fire home-hardening with grants, tax breaks
Two proposals would reimburse homeowners in wildfire zones for making their roofs and yards more resistant to blazes.
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Senator Valladares Announces Hughes Fire-impacted Residents To Receive Home Insurance Reprieve
Tuesday, at the urging of Senator Suzette Martinez Valladares, R-, California Insurance Commissioner Ricardo Lara extended a ...
California insurance commissioner meets privately with State Farm, hopes to make rate hike decision within two weeks
Ricardo Lara said he will look at information from State Farm om the California home insurance market before revisiting ...
LA Times Today: L.A. wildfires up the pressure on California’s insurance commissioner over industry ties
When State Farm insurance wanted an emergency rate hike of 22 percent after the wildfires, state insurance commissioner ...