California's top insurance regulator says he will approve an emergency request from State Farm to raise home insurance rates for roughly a million customers if the company can justify the hike at a public hearing.

California insurance regulators have “provisionally approved” State Farm’s request for a massive rate hike for homeowners following the devasting Los Angeles wildfires. On Friday, Insurance Commissioner Ricardo Lara announced he will allow State Farm to raise homeowners’ rates by an average of 22%.