Insurance Commissioner Ricardo Lara adopted a judge’s ruling to grant State Farm a 17% “emergency” rate increase.
I guess the millionaires that run State Farm are having a hard time. Poor fellas.
Judge Karl Frederic Seligman recommended the hike while considering a larger request from last year.
Lara said State Farm must now justify its financial woes and outline a recovery plan in a full hearing.
And all this after the massive fires in L.A. where State Farm curiously cancelled 69% of the policies in Palisades before it went up in smoke.
California is allowing State Farm to charge an extra 17% for homeowners’ insurance after already approving a 20% hike last year…. the Liberals are driving working people out of the
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!