State Farm seeks 38% rate hike on rental buildings

State Farm General wants to raise homeowner insurance rates in California by an average of 22 percent to stanch what it called “dire financial straits” in the wake of the L.A. fires. The property insurer — a subsidiary of Illinois-based State Farm Mutual Automobile Insurance — asked state officials for an emergency rate increase of […]This article originally appeared on The Real Deal. Click here to read the full story.