Is the giant home insurer now ‘too big to fail’ for Lara?
By Matthew Sellers
California regulators have given State Farm Mutual Automobile Insurance Co. preliminary approval to raise home insurance premiums by an average of 22%, a decision that could affect nearly a million homeowners in the state. However, the rate hike comes with strict conditions, including a pause on policy cancellations and a requirement that the insurer justify the increase at a public hearing in April.
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