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A police vehicle drives past active fire during the Palisades Fire in the Pacific Palisades neighborhood of Los Angeles, California, US, on Tuesday, Jan. 7, 2025. A fast-moving wildfire ripped through an affluent neighborhood in Los Angeles, forcing thousands of people to evacuate as the region braced for a brutal wind storm that could last well into the weekend. Photo: Kyle Grillot/BloombergCalifornia Insurance Commissioner Ricardo Lara has rejected State Farm’s emergency request for a rate hike after the LA County wildfires, saying the company has not shown why the increase is needed.
In a letter to State Farm dated Feb. 14, Lara said, “State Farm has not met its burden,” and requested the carrier answer critical questions about its financial condition and proposed rate hikes.
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