State Farm executives said at the meeting that it needs a 22% emergency rate hike in California to cover more than $7.9 billion in losses. Lara initially rejected the request, saying in a Friday, Feb. 14, letter to State Farm executives that he needed more information before he can approve an increase.

Haden Kirkpatrick, a top State Farm executive, said he was fired after being recorded in an undercover video making disparaging remarks about Pacific Palisades homeowners.

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

State Farm wants to raise its rates by about 22% for California homeowners, which would affect about one million people.

Earlier this month, State Farm — the state’s largest home insurance provider — asked the California Department of Insurance to approve statewide rate increases averaging 22% for homeowners. It also requested a 15% increase for renters and condo owners and a 33% hike for rental owners.

A State Farm executive has been fired after an undercover video of him discussing the company’s request for insurance rate hikes in California and appearing to denigrate residents of fire-devastated Pacific Palisades circulated online.

The video appears to have been recorded sometime after the Southern California wildfires, and references the Palisades Fire in particular.