State Farm, California
State Farm mulling options after Lara rejects emergency rate hike request
In a Feb. 14 letter, Lara informed State Farm that the company had not met the burden of proof required for emergency property rate increases of 15% to 38%. He requested additional data and scheduled a meeting at the end of the month with the carrier and intervenor Consumer Watchdog.
Insurancenewsnet.com · 2d
Not So Fast: State Farm Didn't Prove Its Case for Rate Hike, CDI Says
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22 percent rate request from State Farm, instead calling a meeting with the carrier to get some answers about the carrier' s financial situation and more.
In a letter to the insurer, Lara said under Proposition 103, State Farm has the burden of explaining why the rate hike is ...
As State Farm seeks to raise rates in the aftermath of the destructive wildfires in Southern California, one consumer ...
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