https://www.latimes.com/people/laurence-darmiento Content published by Laurence Darmiento. Tue, 15 Apr 2025 18:06:25 GMT https://www.latimes.com/business/story/2025-04-15/consumer-group-sues-insurance-commissioner-over-fair-plan-assessments-on-state-homeowners Consumer Watchdog sues Insurance Commissioner Ricardo Lara, alleging that rules he issued last year that will allow the California Fair Plan to charge policyholders for losses from the Jan. 7 fires violate state law. Tue, 15 Apr 2025 18:06:25 GMT https://www.latimes.com/business/story/2025-04-15/consumer-group-sues-insurance-commissioner-over-fair-plan-assessments-on-state-homeowners https://www.latimes.com/business/story/2025-04-10/ten-victims-of-the-jan-7-fires-file-lawsuit-against-the-fair-plan-over-smoke-damages Ten victims of the Palisades and Eaton fires sued the Fair Plan, accusing California's insurer of last resort of mishandling smoke damage claims. Thu, 10 Apr 2025 21:44:20 GMT https://www.latimes.com/business/story/2025-04-10/ten-victims-of-the-jan-7-fires-file-lawsuit-against-the-fair-plan-over-smoke-damages https://www.latimes.com/business/story/2025-04-09/trump-tariffs-hitting-l-a-apparel-retail-companies-hard Trump's worldwide tariffs are putting the squeeze on several high-profile L.A.-based toy makers and apparel companies. Wed, 09 Apr 2025 10:00:29 GMT https://www.latimes.com/business/story/2025-04-09/trump-tariffs-hitting-l-a-apparel-retail-companies-hard https://www.latimes.com/business/story/2025-04-03/with-the-tariffs-hitting-asian-trading-partners-l-a-s-ports-and-manufacturing-could-be-in-a-bumpy-ride Key drivers of Los Angeles' economy — trade and logistics — will be hard hit by the tariffs announced by the Trump administration, economists say. Thu, 03 Apr 2025 21:56:57 GMT https://www.latimes.com/business/story/2025-04-03/with-the-tariffs-hitting-asian-trading-partners-l-a-s-ports-and-manufacturing-could-be-in-a-bumpy-ride https://www.latimes.com/business/story/2025-04-02/troubled-state-farm-seeking-yet-another-rate-hike State Farm, already seeking an emergency 22% rate hike for its basic homeowners insurance, is now asking to raise the price of its umbrella liability coverage. Wed, 02 Apr 2025 19:55:43 GMT https://www.latimes.com/business/story/2025-04-02/troubled-state-farm-seeking-yet-another-rate-hike https://www.latimes.com/business/story/2025-03-27/elon-musk-trump-doge-conflicts-of-interest Elon Musk has benefited from his close alliance with Donald Trump, as the president has ousted federal officials who had overseen departments investigating the billionaire's multiple companies. Thu, 27 Mar 2025 10:00:33 GMT https://www.latimes.com/business/story/2025-03-27/elon-musk-trump-doge-conflicts-of-interest https://www.latimes.com/california/story/2025-03-24/pasadena-school-district-files-lawsuit-against-edison-over-eaton-fire-damages The Pasadena Unified School District has filed a lawsuit against Southern California Edison seeking damages for the loss of school buildings and the costs of managing its response to the Eaton fire. Mon, 24 Mar 2025 18:20:26 GMT https://www.latimes.com/california/story/2025-03-24/pasadena-school-district-files-lawsuit-against-edison-over-eaton-fire-damages https://www.latimes.com/business/story/2025-03-14/insurance-commissioner-decides-to-provisionally-grant-state-farms-22-rate-hike California Insurance Commissioner Ricardo Lara decided Friday to provisionally grant State Farm General's request for a 22% hike in its homeowner insurance rates pending a formal rate hearing next month. Fri, 14 Mar 2025 16:53:15 GMT https://www.latimes.com/business/story/2025-03-14/insurance-commissioner-decides-to-provisionally-grant-state-farms-22-rate-hike https://www.latimes.com/business/story/2025-03-11/city-commission-investigating-complaints-of-banking-discrimination-against-armenians Los Angeles officials are reaching out to the local Armenian community for assistance with an ongoing investigation into allegations of discriminatory banking practices. Tue, 11 Mar 2025 22:09:04 GMT https://www.latimes.com/business/story/2025-03-11/city-commission-investigating-complaints-of-banking-discrimination-against-armenians https://www.latimes.com/california/newsletter/2025-03-11/state-farm-eaton-fire-smoke-damage-essential-california The largest home insurer in California seeks approval of a 22% emergency rate hike even as it faces complaints over its handling of insurance claims. Tue, 11 Mar 2025 13:30:22 GMT https://www.latimes.com/california/newsletter/2025-03-11/state-farm-eaton-fire-smoke-damage-essential-california https://www.latimes.com/business/story/2025-03-10/state-farm-seeks-emergency-rate-hike-amid-questions-over-finances-fire-response State Farm, the largest home insurer in California, continues to seek approval of a 22% emergency rate hike even as it faces complaints over its handling of insurance claims. Mon, 10 Mar 2025 10:00:31 GMT https://www.latimes.com/business/story/2025-03-10/state-farm-seeks-emergency-rate-hike-amid-questions-over-finances-fire-response https://www.latimes.com/business/story/2025-03-07/state-farm-executive-haden-kirkpatrick-fired-after-saying-rate-hikes-are-orchestrated Haden Kirkpatrick, a top State Farm executive, said he was fired after being recorded in an undercover video making disparaging remarks about Pacific Palisades homeowners. Sat, 08 Mar 2025 00:58:26 GMT https://www.latimes.com/business/story/2025-03-07/state-farm-executive-haden-kirkpatrick-fired-after-saying-rate-hikes-are-orchestrated https://www.latimes.com/business/story/2025-03-05/consumer-financial-protection-bureau-zelle-lawsuit The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It's Trump administration's latest move to drop enforcement actions. Wed, 05 Mar 2025 22:38:03 GMT https://www.latimes.com/business/story/2025-03-05/consumer-financial-protection-bureau-zelle-lawsuit https://www.latimes.com/business/story/2025-02-25/state-farm-says-it-will-pay-7-6-billion-for-l-a-fires-but-reinsurance-will-cut-losses State Farm General, California's largest home insurer, estimates it will pay $7.6 billion to settle its Los Angeles fire claims but reinsurance will lower its losses to about $612 million, including its costs for bailing out the state's Fair Plan. Wed, 26 Feb 2025 00:01:15 GMT https://www.latimes.com/business/story/2025-02-25/state-farm-says-it-will-pay-7-6-billion-for-l-a-fires-but-reinsurance-will-cut-losses https://www.latimes.com/business/story/2025-02-19/farmers-announces-preliminary-600-million-loss-for-los-angeles-fires Farmers Insurance said claims from the Los Angeles fires will cost it at least $600 million, a substantially smaller initial estimate than some other insurers have posted. Wed, 19 Feb 2025 18:25:14 GMT https://www.latimes.com/business/story/2025-02-19/farmers-announces-preliminary-600-million-loss-for-los-angeles-fires https://www.latimes.com/business/story/2025-02-18/californias-insurance-commissioner-ricardo-lara-on-the-hot-seat-after-l-a-fires The devastation caused by the twin blazes has raised fresh questions about whether the state — and its top insurance regulator, Ricardo Lara — have done enough to protect homeowners. Tue, 18 Feb 2025 11:00:22 GMT https://www.latimes.com/business/story/2025-02-18/californias-insurance-commissioner-ricardo-lara-on-the-hot-seat-after-l-a-fires https://www.latimes.com/business/story/2025-02-14/insurance-commissioner-rejects-state-farms-request-for-22-emergency-rate-hike Insurance Commissioner Ricardo Lara on Friday rejected State Farm General's request for an emergency 22% home insurance rate hike due to the Los Angeles fires unless the insurer can provide more evidence it is warranted. Fri, 14 Feb 2025 21:50:16 GMT https://www.latimes.com/business/story/2025-02-14/insurance-commissioner-rejects-state-farms-request-for-22-emergency-rate-hike https://www.latimes.com/business/story/2025-02-11/fair-plan-to-assess-insurers-1-billion-for-l-a-fires-with-consumers-on-hook-for-nearly-half The California FAIR Plan, the insurer of last resort, received approval to assess member carriers $1 billion to help pay its L.A. fire losses -- with consumers possibly on the hook for nearly half. Tue, 11 Feb 2025 23:33:12 GMT https://www.latimes.com/business/story/2025-02-11/fair-plan-to-assess-insurers-1-billion-for-l-a-fires-with-consumers-on-hook-for-nearly-half https://www.latimes.com/business/story/2025-02-06/allstate-expects-1-1-billion-of-losses-from-los-angeles-fires Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities in January. Thu, 06 Feb 2025 17:07:47 GMT https://www.latimes.com/business/story/2025-02-06/allstate-expects-1-1-billion-of-losses-from-los-angeles-fires https://www.latimes.com/business/story/2025-02-03/state-farm-californias-largest-homeowners-insurer-asked-monday-for-an-emergency-22-rate-increase State Farm General asked Monday for an emergency rate increase averaging 22%, saying the Los Angeles County fires have put California's largest insurer in dire financial straits. Mon, 03 Feb 2025 19:38:23 GMT https://www.latimes.com/business/story/2025-02-03/state-farm-californias-largest-homeowners-insurer-asked-monday-for-an-emergency-22-rate-increase https://www.latimes.com/business/story/2025-01-30/mercury-executive-rebuilding-paradise-2018-wildfire-la-wildfires-eaton-palisades-camp-fire Victor Joseph, president of Mercury Insurance, says there are lessons to be learned for L.A. from the rebuilding of Paradise following its destruction in the 2018 Camp fire. Thu, 30 Jan 2025 11:00:30 GMT https://www.latimes.com/business/story/2025-01-30/mercury-executive-rebuilding-paradise-2018-wildfire-la-wildfires-eaton-palisades-camp-fire https://www.latimes.com/business/story/2025-01-29/chubb-reports-los-angeles-fire-losses-will-hit-1-5-billion Chubb expects that its losses from the L.A. County fires will total $1.5 billion, making the Swiss company the first major insurer to release such a figure. Wed, 29 Jan 2025 17:59:34 GMT https://www.latimes.com/business/story/2025-01-29/chubb-reports-los-angeles-fire-losses-will-hit-1-5-billion https://www.latimes.com/business/story/2025-01-29/bill-providing-one-year-of-mortgage-relief-for-l-a-fire-victims-moving-forward A.B. 238, which would make it easy for victims of the Los Angeles County wildfires to get mortgage relief, will proceed despite voluntary agreements Gov. Newsom reached with hundreds of lenders. Wed, 29 Jan 2025 11:00:07 GMT https://www.latimes.com/business/story/2025-01-29/bill-providing-one-year-of-mortgage-relief-for-l-a-fire-victims-moving-forward https://www.latimes.com/business/story/2025-01-23/some-l-a-fire-victims-are-not-getting-claims-advances-as-required-by-law-state-says Some policyholders who suffered total losses in L.A. fires are not getting claims advances for their living expenses and loss of contents as required, Insurance Commissioner Ricardo Lara alleged Thursday. Fri, 24 Jan 2025 01:44:52 GMT https://www.latimes.com/business/story/2025-01-23/some-l-a-fire-victims-are-not-getting-claims-advances-as-required-by-law-state-says https://www.latimes.com/business/story/2025-01-23/state-banks-and-credit-unions-offer-mortgage-relief-to-fire-victims-newsom-announces Gov. Gavin Newsom announced that 270 state-chartered banks, credit unions, and others will provide mortgage relief for property owners affected by the Los Angeles wildfires. Thu, 23 Jan 2025 19:15:39 GMT https://www.latimes.com/business/story/2025-01-23/state-banks-and-credit-unions-offer-mortgage-relief-to-fire-victims-newsom-announces