Ricardo Lara said he will look at information provided by State Farm before revisiting his previous decision to reject the company’s emergency rate hike.

State Farm executives made it clear that if the California Department of Insurance does not approve the increases, the insurer may move forward with dropping even more policies, reducing coverage across the state.

State Farm General requested a 22% emergency rate hike in California to cover losses from the Los Angeles County wildfires and stop its “financial deterioration.” Lara declined the request, and asked that Krause and other company officials to meet with him to answer questions about why higher rates were needed.

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.

Commissioner Ricardo Lara had asked for the meeting in which he and Consumer Watchdog will sit down with State Farm reps in Oakland.

California's insurance commissioner met with State Farm executives Wednesday to discuss the emergency request for a rate hike.

California’s insurance commissioner met with representatives for State Farm Wednesday in Oakland to talk about why the company has requested an emergency rate hike following the Los Angeles County wildfires.