California insurance regulators are demanding that State Farm answer“ critical questions about its financial condition” in response to the company’ s request for emergency approval of a steep rate hike for homeowners in the wake of the Los Angeles wildfires. “The burden is on State Farm to show why this is needed now,” said Insurance Commissioner Ricardo Lara in a…
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Not So Fast: State Farm Didn't Prove Its Case for Rate Hike, CDI Says
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