The insurer asked the California Department of Insurance to raise rates by an average of 22 percent “to help avert a dire situation” as the company pays thousands of claims related to the fires.
Source: Inman News
State Farm seeks double-digit rate hike in California in wake of LA fires
Published in Agent, california, California Department of Insurance, California Wildfires, consumer federation of america, Doug Heller, financial distress, Gabriel Sanchez, homeowners insurance, insurance payouts, insurance rates, LA wildfires, los angeles, luxury, luxury lens, Markets & Economy, News Brief, property and casualty insurance, rate hikes, Select, State Farm, State Farm General, State Farm Mutual Automobile Insurance Co., State Farm Mutual Automobile Insurance Company and wildfire risks
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