Browsing: rate hike

Minnesota homeowners are bracing for a significant increase in insurance premiums this year, with rates projected to rise by 15% according to a report by Insurify.

California regulators approve a preliminary rate increase for State Farm, but with stipulations regarding customer non-renewals and financial transparency.

California Insurance Commissioner Ricardo Lara has approved State Farm’s request to increase home insurance premiums, contingent upon the company meeting certain conditions and winning approval at a public hearing.

Insurance Commissioner Ricardo Lara will review information from State Farm before deciding on the company’s request for an emergency rate increase.

State Farm General has requested an emergency rate increase in California, citing financial strain from recent wildfires and the escalating risks associated with climate change.

Chief Financial Officer Mark Schwamberger announced the company’s continued state-by-state operational strategy following a year of financial recovery and ongoing discussions with California regulators regarding proposed rate increases.

California’s Insurance Commissioner, Ricardo Lara, has denied State Farm’s request for an immediate rate increase following the Los Angeles fires, demanding more information and setting up a potential confrontation.

State Farm General Insurance, California’s largest home insurer, has requested a 22% rate increase, citing losses from recent wildfires.

State Farm General is requesting an emergency rate increase in California, citing the financial strain caused by recent wildfires and potential future claims.