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State Farm seeks rate hike

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California Insurance Commissioner Ricardo Lara is weighing whether to approve the insurance company’s request to raise rates for homeowners and renters by at least $600 a year on average.
From The Press Democrat
State Farm General said it has the money to cover the staggering damage but must raise rates to shore up its shaky financial health.
From Mercury News

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State Farm asks for 39% umbrella policy hike as property rate requests loom
The insurance company has filed for an increase on personal umbrella liability coverage, affecting hundreds of thousands of California households. Meanwhile, State Farm will participate in a hearing Tuesday to decide whether homeowners and renters in the state will see rates rise on average hundreds of dollars a year.
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.
State Farm requests emergency rate hike that could raise Californians' premiums by 38%
Months after wildfires devastated Los Angeles, insurance giant State Farm submitted a request to hike rates for all of its California customers. If approved by insurance regulators, there would be a 22% increase for homeowners,
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.
Hearings begin on State Farm’s home insurance price hike. Here’s what’s been said
In June, State Farm asked the department to raise its prices for home policies by an average of 30%. Under California law, companies must have rate increases for home, auto and other policies approved before they go into effect. That request was pending when State Farm made the emergency request, and it remains unresolved.
State Farm looks to raise property insurance rates in wake of deadly Los Angeles wildfires
State Farm, California's largest property insurance provider, says it expects to pay out more than $7.5 billion in insurance claims after the Los Angeles wildfires.
State Farm faces questions about accuracy of rate hike amid conflict with expert witness
The expert witness currently has a consulting contract with the Department of Insurance where she not only has access to confidential information, but is specifically assessing rates for State Farm.
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