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Judge sides with State Farm in Calif. insurance commissioner rate case

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Judge sides with State Farm in Calif. insurance commissioner rate case

San Diego Superior Court Judge Katherine Bacal ruled that California Insurance Commissioner Dave Jones erred in ordering State Farm General Insurance Co. to lower homeowners and renters insurance rates in the state by incorrectly calculating the insurer's profits, the Los Angeles Times reported.

Jones in 2016 alleged that State Farm was excessively profiting from the rates and ordered it to lower rates, and to cut them retroactively to mid-2015 and issue refunds to customers. State Farm had challenged the decision.

The company lowered its rates but has not paid the refunds Jones demanded, pending the outcome of the lawsuit, according to the report.