Citing what it calls a potentially “dire situation,” State Farm asked California for permission to hike insurance rates by an average of 22%.

Citing the "dire" financial situation they're facing after the Los Angeles wildfires, State Farm General has asked California officials for an emergency interim rate increase. The rate hike could work out to an average increase of 22% for California homeowners,

State Farm, which already has rate increase requests pending, asked state officials to approve more insurance price increases.