San Diego Superior Court Judge Katherine Bacal has partially rejected an emergency stay request from State Farm General Insurance Co. on an order issued by California Insurance Commissioner Dave Jones to reduce rates and issue refunds to policyholders in the state.
In a hearing on Dec. 16, Bacal denied the stay request on reducing rates but approved it on issuing refunds to policyholders.
State Farm has to reduce homeowner and renter rates by 7 percent. The original order issued by California Insurance Commissioner Dave Jones on Nov. 7 also required the State Farm to issue refunds totalling more than $100 million to its policyholders.
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