Insurer aggressively grew in Los Angeles, despite getting overweight on fire risk, but decided to cut thousands of policies last year, adding to the state’s home-insurance crisis.

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

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.

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.

State Farm is asking California's insurance regulator to approve an emergency rate hike due to the number of claims it received after last month's devastating wildfires.

State Farm on Monday requested California state officials approve an emergency interim rate increase, averaging 22 percent for homeowners in the Golden State. Rental dwelling policies would also face an increase, 38 percent, while tenants would see a 15 percent hike. All changes would be effective May 1 if approved, multiple outlets report.

State Farm has asked the state's insurance commissioner for approval to increase premiums on homeowners, citing financial challenges.

State Farm, the largest home insurer in California, is asking for an emergency rate hike from state regulators as it warns that multibillion-dollar payouts from the Los Angeles wildfires threaten its balance sheet and the broader insurance market.

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,