Department of Insurance – California Globe

Department of Insurance Holds Public Hearing Over Proposed State Farm Insurance Rate Hike

April 9, 2025 2:24 pmApril 9, 2025 2:24 pm

The California Department of Insurance held a public hearing on Tuesday to help determine if they should accept the request by State Farm Insurance to increase the rate on rental homes, non-rental homes, rental units, and condos by at least...

California Department of Insurance Provisionally Accepts State Farm’s Requested 22% Rate Hike

March 14, 2025 5:25 pmMarch 14, 2025 5:25 pm

Insurance Commissioner Ricardo Lara announced on Friday that he has conditionally approved the requested 22% insurance rate hike by State Farm, but only if they can justify their reasons for an increase at a public hearing in April. For over...

Insurance Commissioner Lara To Question State Farm on 22% Rate Increase Justification

February 15, 2025 2:45 amFebruary 15, 2025 2:46 am

In a statement Friday, Insurance Commissioner Ricardo Lara announced that he will be meeting with State Farm Insurance later this month over their proposed 22% emergency rate hike on rental homes, non-rental homes, rental units, and condos, asking them to justify...

Asm. DeMaio to Introduce CA Insurance Reform and Rate Stabilization Initiative

February 13, 2025 12:26 pmFebruary 13, 2025 12:26 pm

The Globe has written many articles about California’s insurance crisis, and has published op-eds from insurance experts explaining how the state got into this mess, and what needs to be done. In June, former State Senator Ted Gaines reported on...

State Farm Seeks 22% Home Insurance Rate Increase After Wildfires

February 4, 2025 2:37 pmFebruary 4, 2025 2:37 pm

State Farm Insurance announced on Monday that they have asked the California Department of Insurance to approve an emergency interim rate increase for rental homes, non-rental homes, rental units, and condos to help pay for the massive increase of claims...

Systemic Mismanagement in California’s Insurance Sector

February 3, 2025 2:45 amFebruary 3, 2025 6:48 am

Insurance is the foundation of a robust financial strategy and is vital to securing a prosperous future for California. However, recent events, notably the wildfires in Los Angeles, have exposed severe systemic issues plaguing our state’s insurance industry. These issues...

Farmers Insurance to Increase Number Of Homeowner & Renter Policies in California

December 12, 2024 5:50 pmDecember 12, 2024 5:50 pm

In a surprise announcement on Wednesday, Farmers Insurance said that they will be going against the trend of insurance companies in California by increasing the number of renters and homeowners policies. For the past two years, insurance companies have been...