They are the largest residential homeowners insurers in California, insuring 1 in 5 homes.
"The rate filing that State Farm just made yesterday (Thursday), they're triggering a rarely used part of the insurance law," said Soller.
"It's a regulation meant to address a company's financial solvency. That's what they're saying and we're going to look closely at that, and we have some serious questions about State Farm's financial condition and we're going to get to the bottom of it. "
That actually sounds like a rather bigger deal that I first thought from the title, if they're on the brink of going under...