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,

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.

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.

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.

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.

When State Farm insurance wanted an emergency rate hike of 22 percent after the wildfires, state insurance commissioner Ricardo Lara rejected it. Since taking office, Lara has been trying to resolve the state’s ongoing home insurance crisis.

California Insurance Commissioner Ricardo Lara met with State Farm executives in Oakland on Wednesday to discuss the company's emergency request for a rate hike and its future in the state. State Farm has requested a 22 percent statewide increase for ...

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.

As insurance companies scale back operations, reduce coverage, or raise premiums, many Californians are searching for answers. On