"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.

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.

California’s insurance commissioner met with representatives for State Farm Wednesday in Oakland to talk about why the company has requested an emergency rate hike following the Los Angeles County wildfires.

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

The rate hikes, according to the insurers, were necessary to address the higher costs they are facing as natural disasters such as the Los Angeles wildfires ... The request was rejected by California Insurance Commissioner Ricardo Lara this week, despite ...

State Farm’s financial solvency has grown so precarious following the Los Angeles fires that ... the insurance giant and California Insurance Commissioner Ricardo Lara.

The insurer’s financial straits were discussed during a meeting Feb. 26 in Oakland between the insurance giant and California Insurance Commission Ricardo Lara. “Those important conversations ...