Insurance expert breaks down State Farm's rate hike request hearing in California and what's next
Insurance industry expert Karl Susman answers questions regarding the three-day State Farm hearing that wrapped up in Northern California this week. The insurance company is asking for an immediate rate increase, claiming it's in a financial emergency. Susman breaks down the big takeaways from the public hearing, which included the CA Department of Insurance, Insurance Commissioner, and Consumer Watchdog representatives, and who ultimately will make the final decision regarding State Farm's request.