State Farm argues it needs additional funds to boost capital and avert an increasingly dire financial situation following the devastating Los Angeles wildfires.

Months after wildfires devastated Los Angeles, insurance giant State Farm submitted a request to hike rates for all of its California customers. If approved by insurance regulators, there would be a 22% increase for homeowners,

Day two of a first of its kind emergency hearing in Northern California to determine if State Farm will get the rate increased it says it needs to stay afloat in California, On Your Side's Kristine Lazar gives details on the hearing with Consumer Watchdog's founder Harvey Rosenfield.