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State Farm makes case for California emergency rate hike

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ABC7 News |
The California Department of Insurance will host its first hearing on Tuesday to determine whether State Farm should be granted a nearly billion-dollar "emergency rate hike."
NBC New York |
State Farm is making its case this week for a major rate hike for California homeowners in a hearing that could prove crucial to the insurer's future.

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Department of Insurance to hear State Farm's justifications for rate hike as high as 38%
During State Farm's last meeting with the commissioner, the company says it can cover claims from the LA fires, but deemed the fires left State Farm's financial condition in a "dire" state.
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.
California insurance officials seem sympathetic to State Farm emergency rate hike request
John Ramos reports on the first day of the Oakland hearing on State Farm Insurance arguing for an emergency rate hike that will impact millions of Californians.
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.
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 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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