It grew into the state’s largest home insurer by writing policies with low premiums and inadequate reserves for the risks it was underwriting.

State Farm executives said at the meeting that it needs a 22% emergency rate hike in California to cover more than $7.9 billion in losses. Lara initially rejected the request, saying in a Friday, Feb. 14, letter to State Farm executives that he needed more information before he can approve an increase.

The video appears to have been recorded sometime after the Southern California wildfires, and references the Palisades Fire in particular.