State Farm General had filed for an 22% rate hike for its homeowner policies, citing the wildfires and a £3.86 billion drop in its surplus account in the past decade.

A State Farm executive has been fired following the release of a recording where he said the company’s California rate hikes are “kind of” orchestrated, according to a Los Angeles Times story.

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

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 the fire-devastated Pacific Palisades region of Los Angeles circulated online.

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.

A State Farm executive has been fired after he was secretly recorded alleging that the insurance company hiked rates for California homeowners reeling from the devastating Los Angeles wildfires. Haden Kirkpatrick,

Haden Kirkpatrick said State Farm’s decision to pull out of California’s insurance market was a calculated move in response to state regulations and financial concerns.