The company is seeking rate increases of up to 22% for non-tenant homeowners, 15% for renters and condominium owners, and up to 38% for rental dwellings. Non-tenant homeowners are investors who don’t live in the property they own.

State Farm, the largest insurance company in California, has asked state regulators to immediately approve a steep rate hike for homeowners to prevent a “dire situation” for its customers and the broader insurance market in the wake of the disastrous Los Angeles wildfires.

California's largest private insurer, State Farm, on Monday urged the state's insurance regulator to approve an emergency hike in rates to help offset the hefty payouts the company is making after devastating wildfires in Los Angeles last month.

The White House confirmed that President Trump, who has repeatedly threatened to impose an array of conditions for federal wildfire assistance, will meet with California's governor.

Governor of California Gavin Newsom talks to U.S. President Donald Trump upon his arrival to tour areas impacted or destroyed by the southern California wildfires, at Los Angeles International Airport in Los Angeles,

Gov. Gavin Newsom departed California on Tuesday to meet with President Donald Trump and members of Congress to discuss federal disaster aid following the devastating wildfires.