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State Farm makes case for California emergency rate hike

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Newsweek |
State Farm could hike its insurance rates by as much as 38 percent.
Mercury News |
State Farm General said it has the money to cover the staggering damage but must raise rates to shore up its shaky financial health.

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California Insurer's Major Emergency Rate Hike Request Under Scrutiny
During a public hearing on Tuesday, State Farm said rate hikes are needed to shore up its assets and stability.
State Farm pleads for emergency rate hikes on California homeowners
State Farm argues it needs additional funds to boost capital and avert an increasingly dire financial situation following the devastating Los Angeles wildfires.
California officials seem receptive to State Farm Insurance's emergency rate hike request at Oakland hearing
At an Oakland hearing Tuesday, attorneys for State Farm Insurance made their case for an emergency rate hike that could impact insurance rates for millions of Californians.State Farm -- the state's largest insurer -- is asking California's Department of Insurance  for a 17% emergency rate hike.
Hearing on State Farm’s 22% emergency rate hike request starts this week
But before giving his final sign-off, Lara ordered State Farm representatives to appear before an administrative judge to justify the company’s request — a rare move for a rate hike proposal. That multi-day public hearing starts Tuesday in Oakland and could last through Thursday.
State Farm Rate Hike Hearing
Day two of a first of its kind emergency hearing in Northern California to determine if State Farm will get the rate increased it says it needs to stay afloat in California, On Your Side's Kristine Lazar gives details on the hearing with Consumer Watchdog's founder Harvey Rosenfield.
Consumer Watchdog challenges ‘bailout’ via potential State Farm rate hikes in California
The insurance company State Farm and the California Department of Insurance argue that the rate increase will shore-up the company's financials, saving millions of Californians' policies.
The San Bernardino Sun29d
State Farm executive fired after disparaging Los Angeles wildfires and victims
A spokesman with the California Department of Insurance ... to cover losses from the historic Los Angeles County firestorms. State Farm executives said at a Feb. 26 meeting with Lara that it ...
Orange County Register1mon
California insurance chief says he’s near ‘solution’ on State Farm rate hike
State Insurance Commissioner ... emergency rate hike request from State Farm this week that could see the insurer shoulder a portion of the financial responsibility to cover losses from the historic Los Angeles County firestorms in early January.
CBS News26d
California insurance commissioner "provisionally" approves State Farm 22% rate increase
California Insurance ... "provisionally" approved State Farm's premium hike of 22% as the company reports dealing with financial struggles stemming from the Los Angeles wildfires.
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