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flag Calif. Insurance Chief Rejects State Farm's Request for 22% Hike in Home Insurance Rates.

flag California Insurance Commissioner Ricardo Lara rejected State Farm's request for a 22% rate hike for homeowner insurance policies, citing insufficient justification. flag Lara asked State Farm to meet on Feb. 26 to provide more information, including explanations for its financial situation and the impact of recent wildfires. flag Consumer Watchdog supports Lara's stance, advocating for a public hearing. flag State Farm, however, expressed disappointment and is considering its options in the state.

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