California reconsiders State Farm rate hike

California reconsiders State Farm rate hike as insurer’s losses rise
As we enter the fire season, it’s in jeopardy,” CFO Mark Schwamberger said of the state’s largest policyholder.
California Gives State Farm Insurance Ultimatum
California's insurance commissioner met with State Farm executives Wednesday to discuss the emergency request for a 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.
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 to consider State Farm emergency rate increase request
Insurance Commissioner Ricardo Lara had asked for the meeting in which he and Consumer Watchdog will sit down with State Farm reps to discuss proposed emergency policy rate increases of up to 38% to cover the costs associated with the Los Angeles-area wildfires.
California insurance commissioner meets with State Farm about emergency rate hike
California’s insurance commissioner met with representatives for State Farm Wednesday in Oakland to talk about why the company has requested an emergency rate hike following the Los Angeles County wildfires.
State Farm asks California to raise homeowner insurance rates by 22%
State Farm wants to raise its rates by about 22% for California homeowners, which would affect about one million people.
State Farm’s CEO just met with California’s top insurance official. Here’s exactly what they said
State Farm has given Insurance Commissioner Ricardo Lara a stark choice: approve a rate increase consumer advocates say amount to $600 per household, or run the risk that California’s largest insurer may drop even more policies across the state.
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 ...
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.
insurancebusinessmag1d
State Farm reveals financials amid California controversy
While continuing to be shrouded in controversy as it threatens to drop more policies if its California rate hike is rejected, ...
State Farm seeks emergency rate increase averaging 22% after L.A. fires
State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits.
The Business Journals29d
State Farm wants an emergency rate hike. Here's what it would mean for Los Angeles.
The company said the recent Southern California fires will be the costliest disasters in its history. California's largest provider of fire insurance is feeling the heat from the aftermath of the ...
NBC Los Angeles on MSN4d
State Farm estimates $7.6 billion in LA wildfire losses, continues seeking interim rate request
State Farm Insurance Group said this week that it has paid out $1.75 billion on approximately 9,500 claims filed as a result ...
Los Angeles Times17d
Insurance commissioner rejects State Farm’s request for 22% emergency rate hike
California’s insurance commissioner on Friday turned down a request by State Farm General for an emergency 22% hike of its home insurance rates due to the Los Angeles wildfires, saying the ...
Artemis6d
State Farm pegs LA wildfire loss at $7.6bn, with $212m retained after reinsurance
US primary insurance giant State Farm has said that its direct losses from the Los Angeles, California wildfires are ...