we've talked to insurance commissioner ricardo lara, questioned rate hikes by companies and helped out homeowners. if you need help with your home insurance, seven on your side has a team of journalists working to help you by exposing these issues. head to abc seven news.com. seven on your side. >> happening now. the oakland unified school board is meeting and tonight they are expected to vote on layoffs. there is a lot on the agenda. layoffs are listed as item s one. that's near the end. o usd needs to slash $95 million from its budget, and it needs to make decisions soon. by law, layoff notices for the next school year need to go out by march 15th. we've been covering the district's process for the past few months. we'll keep you updated on any decisions made tonight. thousands of uc health care and research employees plan to be back on the picket line tomorrow. two unions representing uc service and patient care workers are on strike at all ten uc campuses and uc medical facilities. nearly 10,000 workers are on the picket lines at ucsf campuses. union members say they have been deal

and as our state grapples with a home insurance crisis, the insurance commissioner, ricardo, lara, ising action that he says will save california's insurance programs of last resort. that's known as the fair plan. our capitol correspondent eytan wallace has a look at this 1 billion dollar bailout. >> well, a lot of says his action is necessary to save an insurance program. hundreds of thousands of californians rely on by critics argue it's nothing more than a band-aid for a much larger crisis. it's called the fair plan described as california's insurance of last resort. >> the legislature created nearly 6 decades ago to service a temporary solution to provide insurance for homeowners who have not been able to find coverage for their properties in recent years that very scenario has become a reality for more and more californians as more and more insurance companies drop coverage amid concerns over major fire losses. the fair plan is not paid for by taxpayers. it actually is an independent not-for-profit insurance pool. all the major private insurers in the state pay into given the sta

this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardo lara, in response to state farm's announcement. his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate increase in march of last year. four months later, the company requested another 30% hike last july, but that was never approved. so this 22% potential spike would amend that one and if approved, it would go into effect may 1st. and lisa, i know this is the last thing you want to hear as you've seen the impacts of this. >> yes. and i've been going to my friendly seven on your side to help me out because i'm having issues too. and yeah, i think it's ridiculous, but. >> we're going to get you some help. >> yes. thank you. stephanie. seven on your. stephanie is on your side. so yes,

but now california insurance commissioner ricardo lara is taking action, he says, will save the fair plan, specifically his action calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action keep us as he's concerned. the actually to insurance companies simply passing down higher costs to everyday californians. it's not even a real because that band-aid is coming up. the costs of homeowners. another assessment is coming. >> another rate hike is coming.

but now california insurance commissioner ricardo, lara is taking action, he says, will save the fair plan, specifically his action calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement, he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action keep us as he's concerned. the actually to insurance companies simply passing down higher costs to everyday californians. and it's not even a real because that band-aid is coming up. the cost of homeowners. another assessment is coming. >> another rate hike is comi

california insurance commissioner ricardo lara said earlier this month that the request raises serious questions about state farm generals financial situation. lara says the company assured him personally today that they have enough money to pay out all of the claims from the la wildfires. he also says he addressed concerns from other californians, who asked why state farm general's parent company is not stepping in to back them financially. they they responded something to the accord of this interim rate will send the appropriate market signals and would be a positive step forward in getting the parent company to engage. the nonprofit consumer watchdog was also in today's meeting and opposes the rate request. they believe the issue should go to a public hearing. we're looking at, on average, about $600 to each homeowner's policy in california. so this is just a potential huge impact. we're concerned that we're not seeing the information, the financial information that we need to see to fully evaluate the request. and for people like nora king of martinez, who recently found out she's

commissioner ricardo lara sent a letter to state farm today saying the insurance company has not provided enough evidence that it needs to charge more for coverage. earlier this month, state farm, the largest insurer in california, asked for an emergency increase, including a 22% hike for homeowners. but the commissioner says state farm needs to better explain why its finances are suffering despite other rate increases. he's calling the company to a meeting in oakland in two weeks to discuss it all. state farm says it's disappointed that the commissioner did not approve a rate increase, saying the la fires have further drained its resources. third party intervener in this case, consumer watchdog, will take part in the upcoming meeting. it supports the commissioner's decision, but wants the meeting with state farm to be a public hearing, not a private one. another big headline tonight. openai has rejected elon musk's bid to buy control of that company. sf based openai has been trying to convert into a for profit company to stay ahead in the artificial intelligence race. on monday, musk sai

insurance commissioner ricardo lara says the company must prove the rate hikes are necessary and not excessive. >> our last answer is an important heads up for san francisco commuters. the central subway has only been open for two years, but starting tomorrow, all four stops will shut down for more than two weeks. here's the problem. the chinatown rose park station. that station is about 100ft underground. beneath the water table. it's normal to see water leaking in the station, but in this case, it's causing damage. >> we do have to implement this closure in order to have crews get in there. they're going to fill in any voids with grout. they're going to add sealant to our waterproofing and just make sure that we address and remedy the water situation. >> instead of the train, people can take the 30 or 45 bus lines, which run parallel to the central subway. a shuttle bus service will run from the chinatown station to the fourth and king stop, including ambassadors, to direct people to bus routes. so if you take that, there will be someone there to help you out. the founder of a high

so today in oakakland, the state insurane commissioner, ricardo lara, met with the ceo of state farm general behind closed doors. he says that the company assured him personally today that they have enough money to pay out all of the claims from the la fires. he also says he addressed concerns from other californians who've asked why state farm general's parent company is not stepping in to back them financially, and whether they're simply waiting to see if the rate increase would be passed before offering to help. that's another thing that i kept asking is where is the parent company and whyy aren't they engaged no? they they responded some some, some something to the accord of this interim rate was sent the appropriate market signals and would be a positive step forward in getting the parent company to engage. critics of course calling this excessive. right. ian. yeah. that's right. and the nonprofit consumer watchdog was in that meeting today. they have officially opposed the rate request and fear that if it's approved, then other insurance companies will ask for the same thing. t

today in oakland, the state's insurance commissioner, ricardo lara, met behind closed doors with the ceo of state farm. he says the company assured him personally that it has enough money to pay out all the claims from the la fire victims. all parties understood that there is a sense of urgency to ensure that we can move forward, and that consumers have the certainty that they're going to continue to have state farm as a company in california. all right. joining us now is nbc's alyssa goard, who was at today's meeting in oakland. how unprecedented is this request or does it happen often? it's really unprecedented. raj. so the state department of insurance tells us that it's actually the first request of its kind. so you may notice, if you get a rate increase for your home insurance, that happened because the company filed for an increase and the state approved it. there's a normal process. it takes a while. this is a process that's allowed under state law but has never been used before. so this is entirely uncharted territory for the state. and they're being cautious as a result. and

in a letter to california insurance commissioner ricardo lara, the company said, quote, although reinsuranceill assist us in paying what we owe to customers, the cost of these fires will further deplete capital from sfg. we are requesting that you take emergency action to help protect california's fragile insurance market by immediately approving interim rate increases on these filings with rates to be effective may 1, 2025. carl sussman, a broker and industry expert, explains the situation. >> the problem is that the industry in california has pretty much been upside down for a decade, and it's been slowly getting eroded because the prices have not been matching the exposure we've had. >> reporter: so now state farm is requesting an average rate hike of 22% for homeowners, 15% for renters and condo owners, and 58% for those owning rental properties, no matter where they are located. the company says it needs the money to refill its capital reserve and says its credit rating has taken such a hit that state farm insurance may no longer be accepted by some mortgage companies. >> and this rate

insurance commissioner ricardo lara says the company must prove the rate hikes are necessary and not excessive. >> our last answer is an important heads up for san francisco commuters. the central subway has only been open for two years, but starting tomorrow, all four stops will shut down for more than two weeks. here's the problem. the chinatown rose park station. that station is about 100ft underground. beneath the water table. it's normal to see water leaking in the station, but in this case, it's causing damage. >> we do have to implement this closure in order to have crews get in there. they're going to fill in any voids with grout. they're going to add sealant to our waterproofing and just make sure that we address and remedy the water situation. >> instead of the train, people can take the 30 or 45 bus lines, which run parallel to the central subway. a shuttle bus service will run from the chinatown station to the fourth and king stop, including ambassadors, to direct people to bus routes. so if you take that, there will be someone there to help you out. the founder of a high

pasemos a hablar de estos incendios, porque el comisionado ricardo lara anunciÓ la Última actualizaciÓn fueron sometidas. hablemos de las estafas y el peligro que existe, por con la temporada de presentaciÓn de impuestos en pleno auge el departamento de rentas internas estÁ haciendo un llamado palÉ que las personas utilicen su sistema gratuito de presentaciÓn de impuestos y sepan conocer las seÑales de que alguien estÁ tratando de estafarlo. el irs dicen hay varias formas en que los estafadores intentan engaÑarlo a usted sobre los reembolsos, los crÉditos. y la oferta o el reembolso parece demasiado bueno. los estafadores querrÁn que pague ahora o de lo contrario no le permitirÁn cuestionar o apelar la cantidad de impuestos. mucho ojo, si tiene dudas consulte con su preparador de impuestos. el alcalde de la ciudad firma una ordenanza con lo que declarÓ estado de emergencia por la crisis del fentanilo. esta ordenanza busca acelerar el proceso para convertir un hogar comercial vacÍo en la zona del centro en uno de crisis de salud conductual. el centro serÁ atendido por profesionales mÉdic

commissioner ricardo lara sent a letter to state farm saying the insurance company has not provided enoughdence that it needs to charge more for coverage. earlier this month, state farm, which is the largest insurer in california, asked for an emergency increase, including a 22% hike for homeowners. but the commissioner says state farm needs to better explain why its finances are suffering despite other rate increases. he's calling the company to a meeting in oakland in two weeks to discuss it all. state farm says it is, quote, very disappointed the commissioner did not approve a rate increase, saying the la fires have further drained the company's resources. a third party intervenor in this case, consumer watchdog, will take part in that upcoming meeting. it supports the commissioners rejection. but once the meeting with state farm to be a public hearing as opposed to private. in sausalito, all southbound lanes of 101 are back open this morning after heavy rain caused a massive mudslide covering the highway thursday night. caltrans spent all day friday cleaning the roads. crews installed

and this is >> california insurance commissioner ricardo, lara said in a statement, quote, i took this necessary consumer protection action with one goal in mind. the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from recurring. still ahead here at 10 o'clock, the strongest storm in a year bearing down on southern california. >> the work being done tonight to help areas impacted by last month's wildfires. plus oakland, beefing up security for nba all-star weekend. a for nba all-star weekend. a safety plan ahead. i bought the team! kevin... ? i bought the team! i put it on my chase freedom unlimited card. and i'm gonna cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash. i prefer the old intro! this is much better! i don't think so! steph, one more thing... the team owner gets five minutes a game. alright, let's go then. ahaha! cash brothers! yeah! cashback like a pro with chase freedom unlimited. how do you cashback?

and this is >> a california insurance commissioner, ricardo, lara, said in a statement, quote, a tookhis necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from recurring. well, your health february is american heart month and cardiologists are warning that moru people under the age of 40. all right. great. a risk for heart attacks and heart disease. they say people are just get into sedentary and there's an epidemic of obesity. also, more adults suffer from high cholesterol and diabetes. >> where there is more substance abuse such as excessive smoking. alcohol, cannabis, cocaine, methamphetamines, the anabolic steroids. these also cause different kinds hard related issues. >> doctors say younger adults should make sure to see their doctors to stay updated on their health screenings. in the south bay, silicon valley water officials approved pay raises for themselves. board members approved a 5% raise coming out

commissioner ricardo lara sent a letter to state farm saying the insurance company has not provided enoughe that it needs to charge for more coverage. earlier this month, state farm, which is the largest insurer in california, asked for an emergency increase, including a 22% hike for homeowners. but commissioner lara says the state farm company needs to better explain why its finances are suffering, despite other recent rate increases. he's calling the company to a meeting in oakland in two weeks to discuss it all. state farm, meanwhile, says it is, quote, very disappointed the commissioner did not approve a rate increase, saying the la fires have further drained the company's resources. a third party intervener in this case. consumer watch dog, will be at that upcoming meeting. it says it supports commissioner laura's decision, but once the meeting with state farm to be a public hearing. a celebration of love yesterday, on valentine's day. hundreds of couples got to get married at the gorgeous san francisco city hall. the ceremonies were performed by volunteers, including new mayor daniel

homeowners are also worriedrnia about their own insurance policies, says state insurance commissioner ricardo lara. >> our company is going to leave. am i going to have an option and that am i going to get dropped. >> about three weeks ago? state farm general asked for an immediate emergency rate hike. that's the california subsidiary of state farm. it wants to increase homeowner policies 22%, condo owner policies by 15%, and insurance for rental units by 38%. the state insurance commissioner sat down with state farm representatives to get answers. >> my immediate question to them was, can you pay out the claims for the current fire victims as we're operating on day by day? and that was they assured me that they do have that. >> the commissioner also wanted to know about state farm's plan for the future. >> i want to know one that if state farm consumers are going to be asked to pay more, that we get some guarantees that one, they're going to continue to grow their footprint and that they're going to stay in california. >> state farm general insurance company is the largest insurer in the golden s

california insurance commissioner ricardo, lara, has rejected a request from state farm to hike rates2%. the company asked for this because of, quote, dire financial situation following the southern california wildfires but lloris at state farm didn't meet the burden of proof for this rate hike and requested a meeting later this month with company officials and consumer advocates. >> it's 9.36 in the south bay, a group of san jose wants have to tackle the lack of parking spaces in 2022, the city voted to reduce the minimum parking requirements for housing developments. and that's because they were favoring public transportation. but some council members say that this is limiting residents ability to pardon for their homes because public transportation hasn't kept up with the big amount of people that are moving into these developments and traveling throughout san jose. committee is proposing the city permitted parking program for residents in the high-growth areas. if this moves for the city could include funding for the program in their next cycle budget year. >> a bird flu vaccine h

california insurance commissioner ricardo, lara, has rejected a request from state farm state farm wanted to hike the average rate for insurance statewide by 22% because they said they were in a dire financial situation with the wildfires in southern california. so they wanted everybody basically to help pay for it. but they said the state farm did not meet the burden of proof for this rate hike. so they're going to be talking more about it later on in the month. it's 10, 26. and still ahead on the kron, 4 morning news, we're going to take a peek at all-star weekend. and also also there was chinese new year events. >> and the big parade so is a >> and the big parade so is a bi [ding] [upbeat music] ♪ yeah, baby, i like it like that ♪ ♪ i like it like that, i like it like that ♪ ♪ si a ti te quiero mi amor, i like it like that ♪ ♪ eeeeeh, baby, i said i like it like that ♪ ♪ stomp your feet if you think i'm neat ♪ ♪ clap your hands if you want some more ♪ ♪ i said i like it like that ♪ right now we're checking out the weather for you. a lot of people have the day off and the day is coopera

department will respond with urgency and transparency to recommend a course of action for commissioner ricardo lara. the department will investigate these rate applications thoroughly to ensure californians are charged the appropriate justified rate. meanwhile, homeowners such as irene smith are stuck between a rock and a hard place. on one hand, pay higher rates or drop state farm and move to another insurer, which would likely charge higher rates. smith sees a looming disaster not just for homeowners, but for all residents. >> i'm also worried about how it's going to raise the cost of housing for everyone in california, in san jose. >> smith worries the impacts of higher premiums will drive up housing costs at a time when cities such as san jose are trying to build more housing to meet the needs of the unhoused populations. department of insurance has not given a timeline for when they will make a decision about the two emergency rate hikes sought by state farm. we're live in downtown san jose this evening. jesse gary, ktvu, fox two news. gary, back to you in oakland. >> all right, jesse, thanks

this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardo lara to state farm's announcement, his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate hike in march last year. four months later, the company requested another 30% hike last july, but it was never approved. so today's request for another 22% hike would amend that one. so if that does happen, that's two hikes in just about a year. wow. >> where's the ceiling. you know exactly. >> that's the question people are asking. you know will there be more. yeah. >> really tough for homeowners to keep up with. yeah appreciate it. >> all right. if you need help with your home insurance, reach out to staff seven on your side has a team of journalists working to help you by exposing these iss

hours to get it under control and nobody was hurt. 7.34 and california insurance commissioner ricardo, lara's request state farm wanted a hike insurance rates. 22%. they said that they were in a dire financial situation because of the southern california wildfires. and they basically wanted everybody to pay for it by hiking the prices that we all pay. but the insurance commissioner said state farm didn't meet the burden of proof for the reason for the rate hike. so now they're going to be meeting later this month so they can discuss more about it. >> well, governor newsom has issued an emergency proclamation now in santa cruz county as recovery efforts there continue after the partial collapse of the war. so this comes after storm in december. you may remember not part of that pier into the water. well, the world was closed yesterday because of another storm that brought high surf once again. the county is set to get help now from the office of emergency services. thanks to that order from the governor. a bird flu vaccine now has conditional approval from the department of agriculture. this

cardboard boxes that caught fire as well. 35 is the time in california's insurance commissioner ricardo, laraed a request from state farm to hike rates. state farm wanted to raise insurance rates statewide by 22% because they say they were in dire financial shoes because of the wildfires that happened in southern california. so they want to hike everybody's rate to help pay for that. but he said that state farm didn't meet the burden of proof for that rate hikes are going to be further talks about it later this month. >> well, governor gavin newsom has issued an emergency proclamation in santa cruz county. is that area recovers from the partial wharf collapse that got worse recently. you may remember in december there was a storm that knocked part of the pier into the water. well, the word had to close again yesterday because of another storm that brought high surf to the area with the governor's proclamation. the county now set to get help from the office of emergency services. a bird flu vaccine now has conditional approval from the department of agriculture. it's happening as avian flu. bi

california insurance commissioner ricardo lara sent a notice to the state's major insurance companiescalling on them to provide full coverage without detailed inventory requirements for la wildfire victims, but that will only apply to homeowners, not renters. one woman moved from lafayette to pacific palisades just four months before the fire destroyed her apartment. she counts herself lucky, but says she does feel a bit guilty starting a gofundme because others have lost so much more. >> it didn't feel right, like because i'm so much luckier than so many other people who need it more than me. i did it because, as most everyone, i'm underinsured. >> unfortunately, this this consumer probably is not going to get any of these protections from the department of insurance when it comes to itemization, because that is based on homeowners insurance policies, and this is a renters policy. >> insurance expert carl sussman adds that renter policies are far different from homeowner policies. insurance companies can require renters to show proof of purchase for everything from electronics to a p

and this is >> well, california insurance commissioner ricardo, lara, said in a statement, quote, i tooks necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent the situation from reoccurring. >> a new bill could expand the use of recycled water in california senate bill 31 was introduced with the goal having people use 1.8 million acre feet of recycled water annually by the year 2040. right now, california used about 700,000 acre feet per year. lawmakers are trying to drought proof our state by easing up on how businesses homes and government agencies used treated wastewater for irrigation and other things. meantime, saving drinking water for better uses like drinking. in san leandro. a hate crime investigation is underway after a new homeowner found this scrawled on their fence racist graffiti. the home is still under construction. the owner says that some neighbors are against her decision to paint over it. this isn't that straigh

and this is >> california insurance commissioner ricardo lara said in a statement, quote, i took thisecessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent the situation from reoccurring. in other news this morning, president donald trump has announced plans to increase u.s. tariffs to match the tax rates charged by other countries on imports. it's a move he's calling reciprocal tariffs while the specifics of the plan are still unclear. the potential tariff hike could impact the global economy, raising inflation and potentially slowing economic growth. that's the worry. the president has already implemented tariffs on china, canada and mexico and further measures on steel, aluminum and tech products. critics are warning that moves like this could spark trade wars and ultimately hurt u.s. consumers with the white house says this is simply creating fairtrade conditions. meanwhile, california attorney general rob bonta has expressed c

william: ricardo lara is california's insurance commissioner.ople off the fair plan, and bring private insurers back, lara's office pushed through a series of reforms, including allowing companies to consider future impacts of climate change when setting rates and letting insurers pass along the cost of insuring themselves what is known as reinsurance to homeowners. >> if we're going to ever get to affordable rates, we have to get to tackle the availability issue. insurers have to come back to california and expand in order to bring down the cost. and that is what the reforms do. william: lara says his job is to strike a delicate balance. >> you have to make sure you have a solvent and strong market and that you have the consumer protections to make sure that they can pay out those claims when people need it. my role right now for these fires is to make sure that they're paying off the claims that they owe to southern californians who are trying to rebuild, recover after these catastrophic fires. if they don't do that, i'm going to go after them

and this is >> california insurance commissioner ricardo, lara said in a statement, quote, i took thissary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. he goes on to say we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring end, quote. happening today, a u.s. district judge will hold a hearing on whether to stop the trump administration from shuttering u.s. aid operations affidavits from some u.s. aid workers claim the fees cuts are happening without required justification or documentation. they're just being withdrawn. cold turkey, a temporary restraining order halting the administration for putting more than 2000 workers on leave is in effect at this point. >> time now is 10, 20 and president trump has announced plans to increase u.s. tariffs to match the tax rates by other countries on to move. he calls reciprocal tariffs. the specifics of the policy remain unclear. but the potential tariff hike could impact the global economy, raising inflation and

california insurance commissioner ricardo, lara, has rejected a request from state farm to hike ratese company requested this due to quote their dire financial situation following the southern california laura says that state farm did not meet the burden of proof for the rate hike and requested a meeting later this month with company officials and consumer advocates. >> it's another year of beautification for the city of san jose mayor matt mahan posted this video online and said the city is teaming up with silverleaf neighborhood association and council member pamela campos to bring colorful artwork, 2 that previously had graffiti on them last year. san jose partnered with neighborhood associations across the city to add 13 new murals in our projects with the help of volunteers, the mayor extended his invitation to the community to come out and help this upcoming saturday. >> governor newsom has issued an emergency proclamation in santa cruz county as recovery efforts continue for the partial wharf collapse there. this comes after a december storm. not part of that pier into the wate

insurance commissioner ricardo lara says the company must prove the rate hikes are necessary and notxcessive. >> this morning is the annual city beat breakfast. the san francisco chamber of commerce will be sharing its annual city beat poll results, which feature the top concerns of san francisco voters. some notable city leaders, including mayor daniel lurie and bray stewart, the ceo of bay fc, will be speaking. registration is closed for the event. >> still ahead. special election approved. all part of the push to fire san mateo county's top cop. what you need to know and what we could see a change from the sheriff's department. >> and you are looking live at the big board at the new york stock exchange. you can see we're up about 22 points. another update on how the markets are doing next. >> plus, bucking the trend, the major fast food chain that's saying no to egg surcharges. >> and streaming at 7 a.m. we debate over who we think is the most important person in the world today, but you decide the winner i nominate, i. i'll explain. but first here's drew. >> this morning we are l

this to move forward, the rate hike has to be approved by the state's insurance commissioner, ricardo lara farm's announcement, his office wrote, to protect millions of california consumers and the integrity of our residential property insurance market, the department will respond with urgency and transparency to recommend a course of action for commissioner lara. >> it's shameful for state farm to be trying to take advantage of this tragedy. >> now, state farm was already granted a 20% rate increase in march of last year. four months later, the company requested another 30% hike last july, but that one was never approved. so today's rate hike request would amend that one and if approved, it would go into effect may 1st. >> okay, stephanie sierra live for us in the studio this evening. stephanie, thank you so much for your reporting on this ongoing issue. and if you need help with your home insurance, reach out to steph. seven on your side has a team of journalists working to help you by exposing these issues, all you have to do is head to abc7 news.com/7 on your side. >> new developments

but now california insurance commissioner ricardo, lara is taking action, he says, will save the fairon calls on insurance companies in the state to bail out the fair plan with 1 billion dollars. lot of says those insurance companies will take on have to cost while passing on the other half to their policyholders. in a statement, he wrote this, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. this is another band-aid on the insurance crisis that we're all in. i mean, that's all this is assembly insurance committee. vice chair republican david tang is skeptical of lot u.s. latest action tongue. epa says he's concerned the actually to insurance companies simply passing down higher costs to everyday californians. and it's not even a real because that band-aid is coming at the cost of homeowners. another assessment is coming. >> another rate hike is coming. californians are rea

but in a letter released today, commissioner ricardo lara said that the insurer has not met the justifications for relief under state law. he says state farm will have to answer questions about its financial condition in an in-person meeting on february 26th. lara said, quote, all californians know from the past ten years that the risks of wildfire are real and growing. we have experienced firsthand the ravages of climate changing climate. our decisions must be guided by transparent data and an honest reckoning with the challenges we all face together. state farm responded, saying it is, quote, very disappointed in the decision, adding, we have gone to great lengths to clearly answer the questions outlined by the commissioner. while we're positioned to handle all of the claims associated with the most recent wildfires. state farm general must seriously consider its options within the california insurance market going forward. >> after the break. a warning along the coast the message for beachgoers as we head into this holiday weekend. >> and barry, whether the rain clouds have moved out of tow

. >> california insurance commissioner ricardo, lara said in a statement, cole, i took this necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing, all the fear plant and prevent the situation from reoccurring. still ahead, the kron morning news. local leaders are working on new ordinances, prevent other fire departments from closing. it comes after some fire stations already shut down. >> due to the lack of funds. and those heavy rains. high winds hitting the bay where keeping a close eye out on flooding on the roadways flooding on the roadways during your mor what happens... when an unstoppable force... meets an immovable raccoon? attack! bark! attack! it's not easy taking out the trash. that's why you need... strength that's anything but ordinary. hefty hefty hefty. >> well, in the north bay and a bottle man was sentenced to 75 years to life in prison on child assault charges. brett ortiz, a registered offender, was arrested in june 2022. after an investig

california insurance commissioner ricardo, lara, has rejected a request from state farm state farm wanted rates. an average of 22% and they requested this because they said they were in dire financial situation following the california wildfires that happened in socal. laura says state farm did not meet the burden of proof for this. 22 1% rate hike and requested a meeting later this month. and so they will work out more from there. >> well, governor newsom has issued an emergency proclamation in santa cruz county as recovery efforts continue for that. partial wharf collapse. this came after a december storm knocked down part of that pier into the water. the wharf was closed off yesterday because another storm brought high surf to the area. you can see parts of the pier dangling off off the pier surface. there. the county is set to get help from the office of emergency services. now. a bird flu vaccine now has conditional approval from the department of agriculture. it's happening as the avian flu bird flu continues to wipe out. flocks of poultry, driving up egg prices. the company behind

insurance commissioner ricardo lara said the company must prove the rate hikes are necessary and not excessive. >> this morning is the annual city beat breakfast. the san francisco chamber of commerce will be sharing its annual city beat poll results, which features the top concerns of san francisco voters. some notable city leaders, including mayor daniel lurie and stewart, the ceo of bay fc, will be speaking. registration is closed for the event. >> and we have a traffic alert for you this morning. the metering lights are on at the bay bridge toll plaza. they came on less than ten minutes ago at 532, but you can see there are no backups yet at the tolls. it's still early, so it's a pretty easy drive across the span into the city. if you're driving from highway four to san francisco, 45 minutes right now. >> thanks, gloria. in today's gma first look, conan o'brien is opening up to lara spencer about hosting this sunday night's oscars ceremony. here's abc news reporter andrew dymburt. >> in this morning's gma first look. one on one with host of the 97th academy awards, conan o'brien.

. >> yeah, california insurance commissioner ricardo, lara said in the statement you see on your screen, i took this necessary consumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from reoccurring. >> happening today, a u.s. district judge holds a hearing on whether to stop the trump administration from shattering u.s. aid operations affidavits from some u.s. aid workers claim that the cuts happen without require justification or documentation. a temporary restraining order halting the administration from putting more than 2000 workers on leave is in effect right now. while they decide. and developing news this morning out of the middle east, hamas says that it will release more hostages on saturday as planned previously. they said that they would no longer abide by the cease-fire terms with israel. but the hostage release is going on. no immediate comment so far from israel. on today's announcement, hamas had accuse israel o

. >> well, california's insurance commissioner, ricardo, lara, issued the statement you see on your screenreads in part, quote, i took this necessary consumer protection action with one goal in mind, the fair plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from meeting. >> to expand the use of recycled water in california. the bill was introduced with the goal of having people use 1.8 million acre feet, right now, california, just 0 h- about 700,000 acre feet per year. lawmakers are trying to drought proof our state by easing up on how businesses homes and government agencies use treated wastewater for irrigation and other things while saving drinking water. >> in other headlines this morning, president trump has announced plans to increase u.s. tariffs to match the tax rates charged by other countries on imports. a move he's calling reciprocal tariffs. now, while the specifics of the policy are still unclear, the potential tariff hike could impact the global economy, raising infla

the insurance commissioner of california, ricardo lara, has just ordered a $1 billion bailout of thes by policyholders all over the state. this will appear in the form of a basically a tax to cover the insurance company's debts from these wildfire losses in los angeles in january. so people all over the state, even people say in oakland, who are at low risk of fire, are going to have to pay to reimburse the insurance companies for the claims of high risk properties, say, along the coast of malibu, those 2 to $4 million homes. so we are actually in a crisis now. that's largely been caused by the behavior of the insurance industry. and they've done this because they weren't prepared for climate change, and they've also done it because they don't they want to be freed of regulations that the voters put in place 36 years ago to protect against price gouging. >> all right. let's talk about what is in our control. many homeowners say, look, i can't control all that, right? i'll deal with that another day. is there something that people can do right now to make sure that they have the cover

. >> state commissioner of insurance, ricardo, lara said in a statement, quote, i took this necessarysumer protection action with one goal in mind, the fare plan must pay claims just like any other insurance company. we must take action to improve the financial standing of the fair plan and prevent this situation from recurring. a new bill could expand the use of recycled water in our state senate bill. 31 was introduced with the goal of having people using 1.8 million acre feet of recycled water annually by the year 2040. right now, california about 700,000 acre feet per year. this comes as lawmakers try to drought proof the state by easing up on how businesses homes and government agencies use treated waste, water. and today confirmations continue for president donald trump's cabinet nominees. despite some controversy, the president will likely end up with the exact cabinet he wanted. washington correspondent trevor shirley has the latest. and today's vote will likely bring the president closer to filling out his cabinet less than one month into his term. >> president donald trump b

state commissioner ricardo lara says the assessment is necessary to continue paying out claims to fireurvivors, and the wall street journal reports white house officials are discussing plans to consolidate federal banking regulation without congressional consent. now, according to the report, trump advisers and allies are looking at ways to collapse the fdic into the treasury department and combine the agency's role with the office of the comptroller of the currency. now, the reported move follows the dismantling of the consumer financial protection bureau. last weekend. the journal adds staff inside the fdic and occ expect to hear from d.o.j. in the coming days. >> frank. >> all right, savannah, thank you very much. see you a bit later on the show. all right. we'll turn our attention now to washington. and an unusual scene in the oval office. >> late yesterday. >> tesla ceo and department of government efficiency head elon musk. he joined president trump for an executive order signing, further empowering doj's oversight within federal government agencies. nbc's alice barr has much mor

california insurance commissioner ricardo lara has sent a notice to the state's major insurance companiesng on them to provide full coverage without detailed inventory requirements for la wildfire. wildfire wildfire victims. but that only applies to homeowners, not renters. one woman moved from lafayette to pacific palisades just four months before the fire destroyed her apartment. she counts herself lucky and feels guilty starting a gofundme because others lost so much more. >> i didn't feel right. like, because i'm so much luckier than so many other people who need it more than me. i did it because, as most everyone, i'm underinsured, unfortunately. >> this this consumer probably is not going to get any of these protections from the department of insurance when it comes to itemization, because that is based on homeowners insurance policies and this is a renters policy. >> the insurance expert adds renters policies are far different than homeowner policies. insurance companies can require renters to show proof of purchase for everything from electronics to a pair of socks. >> up next flu

but in a letter released on friday, commissioner ricardo lara said that the insurer has not met the justificationss financial condition in an in-person meeting on february 26th. >> and lara said, quote, all californians know from the past ten years that the risk of wildfire are real and growing. we have experienced firsthand the ravages of changing climate. our decisions must be guided by transparent data and an honest reckoning with the challenges we all face together. >> and state farm responded, saying it's very disappointed in this decision, adding we have gone to great lengths to clearly answer the questions outlined by the commissioner. while we're positioned to handle all of the claims associated with the most recent wildfires, state farm must seriously consider its options within the california insurance market going forward. >> this long holiday weekend, getting off to a bit of a rocky start for some people in east san jose. all due to this week's very stormy weather. the penitencia creek overflowed its banks during thursday's downpour. the water flooded 16 units at the betty ann garden a

actually met with the commissioner, with the insurance commissioner for the state of california, ricardo lara in oakland. it wasn't anything official, was no rate hike hearing. it was more of an informal conversation between the two parties. and in that case, commissioner lara said that he was looking to find out some more information, what exactly it is that state farm was hoping to do and to do to get that rate hike. he says he'll know in about two weeks on what he'll officially decide. but simply put, state farm is putting a big number on its proposal. it wants to raise its rates temporarily by about 22%. for homeowners in california, that would affect about a million people in the state. in a letter to the state agency. state farm says it's already paid out more than $1 billion for just a few thousand claims. after those destructive fires in the los angeles area. it says it expects to eventually pay out more than $7.6 billion. state farm says it can pay out what it owes, but its capital is taking a huge hit, and that temporary rate hike could help. commissioner lara says he's considering

the commissioner, ricardo lara, says the insurer has not met the conditions for that increase under state says state farm will have to answer questions about its finances in a meeting now set for february 26th. all right. best story for of the day for a while, an 18 year old community college student from the east bay will remember the all star game for the rest of his life. >> because he won $100,000. you know, of course, for sinking an incredible shot at chase center last night. his name jaren barajas. he grew up in oakland, currently attends los medanos college. now getting national attention in the world of pro basketball and beyond for that three pointer he made on the home court of the golden state warriors last night. >> keep shooting. keep shooting. keep shooting. oh my gosh. keep shooting. [music] keep going. oh. he did it. >> he just shut it down. boom! nothing but net. you saw it there. the 18 year old thrilled the sold out crowd. millions of tv viewers too, by beating milwaukee bucks star and oakland native damian lillard in the three-point shooting contest. hours later, jaren

state commissioner ricardo lara lara saying that the assessment is necessary to continue paying out claimss. >> take a look at the. >> futures one more time this morning. dow futures off by about 45 points. s&p futures down by three and a half. the nasdaq indicated up by about ten points. i want to get over to frank holland. he's been taking a look at this morning's pre. market movers. and what are you finding frank. >> hey good morning becky. we're going to start off with an earnings move. we're taking a look at shares of lyft right now. you can see they're moving lower down double digits more than 12% after fourth quarter results where they reported a miss on revenue. but ebitda did beat estimates. one factor on the results. the company said it reduced surge pricing during the quarter, the rideshare company also giving gross bookings outlook for the current quarter that was below estimates. lyft making a number of other announcements, including a planned increase in app ads to boost revenue. also, a share buyback plan of up to $500 million. again, shares down more than 12%. also, lyft ce