Want to create an interactive transcript for this episode?
Podcast: News For Reasonable People
Episode: #2,752 - State Farm must wait on 22% emergency home insurance rate increase bid after California wildfires
Description: Insurance Commissioner Ricardo Lara said State Farm must answer more questions about its finances before the company can be approved for an emergency rate increase in response to the devastating fires in the Los Angeles area.In a letter Friday , Lara requested a meeting later this month with company officials and representatives from a group challenging the request.Executives for State Farm General Insurance Company, the firm’s California arm, asked Lara for a 22% price increase on Feb. 3 . They told the commissioner their business “needs your urgent assistance in the...