As urged by Consumer Watchdog, California’s Insurance Commissioner Ricardo Lara has called a hearing on State Farm’s unprecedented request for a $900 million “emergency” rate hike for homeowners, renters, condo owners and landlords. Consumer Watchdog will prosecute the case against company at the hearing, which begins on April 8th.
“It’s a victory for consumers that State Farm will now have to make its case in a public hearing before a judge and prove a rate hike is justified. The company has so far failed to back up its request, and unless State Farm proves otherwise the outcome of a hearing should be a rejection,” said Carmen Balber, executive director of Consumer Watchdog.
Consumer Watchdog’s rate analysis and communications to State Farm and the Department of Insurance calling for State Farm to justify its request in a public hearing can be found here. https://consumerwatchdog.org/state-farm/
