WOULDN’T WANNA BE YA: Insurance Commissioner Ricardo Lara is about to have to bite the bullet. After first hitting pause on an emergency 22 percent rate hike request by State Farm, the state’s largest insurer, following the Los Angeles fires, he’s now weighing whether to grant it.

"The FAIR Plan paid out $914 million." California official makes $1 billion request in wake of wildfires — here's why the funds are needed first appeared on The Cool Down.

Last week’s Insurance Town Hall with Insurance Commissioner Ricardo Lara, hosted by Senator Monique Limón and Assemblymember Gregg Hart, with local experts from the Santa Barbara County Fire Department,

Depending on the Californian talking, price controls are the angel or the devil in the debate about the Golden State’s insurance nightmare. California’s Proposition 103 serves as the cornerstone for price controls on the insurance industry and keeps premiums artificially low.

Ricardo Lara said he will look at information provided by State Farm before revisiting his previous decision to reject the company’s emergency rate hike.

State Farm has given Insurance Commissioner Ricardo Lara a stark choice: approve a rate increase consumer advocates say amounts to $600 per household, or run the risk that California’s largest insurer may drop even more policies across the state.

Insurance Commissioner Ricardo Lara has been grappling with the troubled market for his six years in office, and now his controversial plan to reform it will be put to the test after the costliest wildfires in the state’s history.

California's insurance commissioner met with State Farm executives Wednesday to discuss the emergency request for a rate hike.

As we enter the fire season, it’s in jeopardy,” CFO Mark Schwamberger said of the state’s largest policyholder.

California’s Insurance Commissioner has not decided whether he will approve State Farm’s emergency interim request to increase insurance rates.

Earlier this month, State Farm — the state’s largest home insurance provider — asked the California Department of Insurance to approve statewide rate increases averaging 22% for homeowners. It also requested a 15% increase for renters and condo owners and a 33% hike for rental owners.