State Insurance Commish Ricardo Lara has turned down a request by State Farm General to raise home insurance rates by an average 22%.

Commissioner Ricardo Lara scheduled a meeting with State Farm to hear their justification for the rate increase.

State Farm pointed out that over the last nine years, the lack of alignment between price and risk means that for every $1 collected in premium, State Farm General paid

California insurance regulators are demanding that State Farm answer “critical questions about its financial condition” in response to the company’s request for emergency approval of a steep rate hike for homeowners in the wake of the Los Angeles wildfires.

In a rebuke to the state’s largest insurance company, California Insurance Commissioner Ricardo Lara announced Friday he will not grant State Farm General’s request for an emergency rate hike in the wake of the Los Angeles wildfires.

California Insurance Commissioner Ricardo Lara on Friday rejected State Farm’s request for “emergency” rate increases that would have averaged 22% for homeowners.

After State Farm, California's largest insurer, filed a request for an emergency 22% rate hike for homeowner policies, Insurance Commissioner Ricardo Lara rejected the company's request Friday.