California Insurance Commissioner rejects the state farm request for price increase

However, in the California proposal 103, insurers must prove that so much increase is necessary and excessive. Often catastrophic weather storms have stopped writing a new policy in California for the perception of homeowners and tenants for stable fees and left Nonronewal warnings for thousands of existing policies.

During a week last week, Lara appealed to the interrogation of the growing state farm in California after Los Angeles.

“Under the harsh opinion of 103, it is related to the state farm to show that the cargo is necessary. The state farm has not met its cargo,” he said in a letter to the insurer.

The press release continued to say that the Commissioner asked all the parties all the parties, including insurance companies and interventions.

Lara also asked the state economy to answer critical questions about the financial situation and the proposed rate increase. On February 26, he called on government officials to meet in person.

Lara's office is trying to assess the financial stability of the state farm, so the company has worsened, despite the increase in the previous rate. He also wants to know what the state farm currently has changed since the latest exchange rate documents. Consumers were asked to substantiate the effects and adequate documents and increased ratio.

“All Californians have been real and growing in the last 10 years. We have experienced our first hand in the desire of a changing climate. We are clear to the work necessary to protect our communities,” he said.

“Our decisions should be done with transparent information and the challenges we all face together. As the chosen head of the department, my main responsibility is the insurance commissioner elected in the insurance commissioner, in response to developing threats today, global Reinsurance emphasizes the wisdom of the decision-makers of the insurance elected in response to the expenses and hardened national property insurance market. “

According to the consent of the state farm managers and the department of the department, in 2023 in 2023, 6.9% in 2023, in 2023, and 6.9% in 2023, 6.9% in 2023.

“In the absence of non-fire non-disaster losses in 2022 and 2023, how does the state economy explain that the surplus of the policy of politics is significantly reduced?” Lara wrote.

The same day of the state was disappointed with the lack of support for the reward and protection for the Californians, presented that day.

“We have made a lot of effort to answer the questions shown by the Commissioner. Although we are in position to manage all claims related to the latest wildfires, the State University should seriously consider the choices within the California insurance market,” he said.

CEO Pivot FinanceLike La Fires, disasters said that insurance companies are a threshold trigger for the reinsurers.

“It is known that the state economy has received more than the main company,” he said. At home.

Separate, McGuinness-Lubbert, explained where the state farm was wrong.

“If you do not want this risk level, do not receive re-insurance from your parent, do not shop from third party agencies.” “California homeowners should not pay for this, because the state farms have known the risk of intracompan agreements because they are now, it is time to pay as they want any 3rd parties.”