The state of California approved State Farm's request for an emergency 17% increase in homeowners insurance rates as the company deals with financial challenges after the LA wildfires.

The State Farm unit then appealed to Lara for an emergency 22% hike and threatened to leave the state. After quick hearings, an insurance department judge found that 72% of the er

State Farm has argued the emergency rate hikes are necessary to help the company avoid a “dire” financial crisis that could force them to drop more California policies.