Insurance Commissioner Ricardo Lara on Monday rejected State Farm General's request for an emergency 22% home insurance rate hike due to the Los Angeles fires unless the insurer can provide more evidence it is warranted.

California Insurance Commissioner Ricardo Lara recently rejected State Farm’s request for “emergency” rate increases, setting up what could be a highly consequential showdown with the state’s biggest insurer — and going against the recommendation of his staff experts.

State Farm pointed out that over the last nine years, the lack of alignment between price and risk means that for every $1 collected in premium, State Farm General paid

California Insurance Commissioner Ricardo Lara rejected State Farm’s “emergency” premium increase of 22% on average for California homeowners.

State Farm responded by saying that it “must seriously consider its options within the California insurance market going forward.”

State Insurance Commish Ricardo Lara has turned down a request by State Farm General to raise home insurance rates by an average 22%.

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