State Farm office in Downtown Baltimore, MD. August 20, 2020.Photo: Diego M. Radzinschi/ALM
California Insurance Commissioner Ricardo Lara has provisionally approved State Farm’s request for an emergency interim rate increase if the carrier can justify the hike at a public hearing in April.
In wake of the LA County wildfires, the state’s largest home insurer requested an immediate 22% rate increase for homeowners, along with a 38% increase for rental dwellings and a 15% increase for renters and condo owners.
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
