California insurance commish to State Farm: go pound ashes
State Insurance Commish Ricardo Lara has turned down a request by State Farm General to raise home insurance rates by an average 22%.
California's insurance head rejects State Farm's rate increase request
California Insurance Commissioner Ricardo Lara denied State Farm's request for "emergency" rate increases that would have meant an average increase of 22% for homeowners.
Big Homeowner Rate Hike From State Farm Shot Down by California Regulator
California's insurance chief rejects State Farm's 'emergency' rate hike, setting stage for a crucial industry showdown.
Insurance Commissioner seeks answers from State Farm on rates, viability
The insurer had sought approval for an emergency rate hike in the wake of LA fires, which led to the call for a meeting on its viability
Lara demands justification for State Farm rate hike
In a letter issued on Friday, Lara said State Farm’s request for an emergency interim rate increase can only be granted if the carrier can show why a price hike is necessary. A meeting is set for 26 February. State Farm has requested a rate increase from 1 May of 22% for non-tenant homeowners, 15% for tenants and 38% for rental dwelling.
California Rejects Insurance Company's Demand For Rate Hike
California's insurance commissioner has turned down a request for an emergency 22 percent hike in home insurance rates, following the Los Angeles wildfires.
California insurance commissioner rejects State Farm’s request for 22% rate increase
State Farm responded by saying that it “must seriously consider its options within the California insurance market going forward.”
State Farm's emergency rate hike rejected by insurance commissioner
After State Farm, California's largest insurer, filed a request for an emergency 22% rate hike for homeowner policies, Insurance Commissioner Ricardo Lara rejected the company's request Friday.
Insurance commissioner Lara Seeks meeting with State Farm on rate request
In a letter to the insurer, Lara said under Proposition 103, State Farm has the burden of explaining why the rate hike is needed now — which he says the company has “not met.”
California Bill Could Force Insurers to Change Payout Policies
Proposed legislation could force insurers in California to pay 100 percent of the coverage for belongings inside homes ...
Big CA insurance hike blocked for now
The state’s insurance commissioner blocked a State Farm request to raise rates as wildfire insurance claims continue to roll in.
Insurancenewsnet.com14h
Insurance commissioner, legislative leaders join forces to introduce proposals for wildfire mitigation and recovery
Insurance Commissioner Ricardo Lara, along with several legislators, is advancing a comprehensive legislative package aimed at protecting wildfire survivors and improving preparedness for future ...
California bill would require insurers to pay full coverage without itemized lists
A proposed California bill could force insurers to pay homeowners 100% of the coverage for belongings inside destroyed homes, ...
State Farm’s rate hike shot down by California regulator
California Insurance Commissioner Ricardo Lara rejected State Farm’s “emergency” premium increase of 22% on average for ...
California seeks $1 billion from insurers to shore up FAIR Plan after LA fires
California Insurance Commissioner Ricardo Lara has requested $1 billion in additional funds from the commission's member ...
Insurancenewsnet.com6d
Lara takes action to ensure FAIR Plan can continue paying consumer claims after the Southern California wildfires
Ordering the insurance companies' FAIR Plan to continue swiftly paying claims to Southern California wildfire survivors, Insurance Commissioner Ricardo Lara today took action to maintain its solid ...