State Farm requests 22 percent emergency rate hike after LA fires
State Farm on Monday requested California state officials approve an emergency interim rate increase, averaging 22 percent for homeowners in the Golden State. Rental dwelling policies would also face an increase, 38 percent, while tenants would see a 15 percent hike. All changes would be effective May 1 if approved, multiple outlets report.
State Farm Seeks Emergency California Rate Hike After Fires
State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns that multibillion-dollar payouts from the Los Angeles wildfires threaten its balance sheet and the broader insurance market.
State Farm seeks emergency rate increase averaging 22% after L.A. fires
State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits.
State Farm asks for more insurance rate increases after Los Angeles fires
State Farm, which already has rate increase requests pending, asked state officials to approve more insurance price increases.
State Farm asks for emergency 22% increase for California premiums, but critics cry foul
Citing what it calls a potentially “dire situation,” State Farm asked California for permission to hike insurance rates by an average of 22%.
State Farm seeks an emergency insurance rate increase after LA wildfires. It’s the latest blow to California’s housing market
State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.
State Farm Asks for 'Emergency Hike' in Rates Due to Southern California Wildfires
"SFG needs your urgent assistance in the form of emergency interim approval of additional rate to help avert a dire situation for our customers and the insurance market in the state of California," State Farm said in a filing to the regulator.
State Farm seeks an emergency insurance rate increase after LA wildfires
You could face a 22% rate hike if State Farm covers your home. The company sent a letter to the California Dept. of Insurance Monday warning of its "dire" financial situation in the wake of the Los Angeles County wildfires - requesting an "emergency" rate hike.
State Farm asks for approval to increase California home insurance rates by an average of 22%
Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California officials for an emergency interim rate increase. The rate hike could work out to an average increase of 22% for California homeowners,
State Farm asks for insurance rate hike of 22 percent after L.A. fires
State Farm wrote in a letter on Monday that the recent fires in Los Angeles threaten its finances and are “the costliest in the history of the company.”
State Farm proposes home insurance price hike after $1 billion spent on LA fire claims
State Farm wants to raise home insurance rates for Californians by an average of 22% after the company paid out roughly $1 billion in claims due to the Los Angeles fires. As the largest home insurance company in the United States,
Investigation launched into L.A. County’s faulty emergency alert system
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Some of L.A.’s Fires Were Put Out Quickly. There Are Lessons in That.
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Flawed emergency alert systems lagged when residents needed them most during Los Angeles wildfires
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