California's top insurance regulator says he will approve an emergency request from State Farm to raise home insurance rates for roughly a million customers if the company can justify the hike at a public hearing.

If State Farm is successful at proving its need for rate hikes at next month’s hearing, its interim rates will climb on June 1 an average 22% for homeowners, 15% for renters and condos, and 38% for rental dwellings.

The California Department of Insurance has been under pressure to stabilize the market, introducing new rules that allow insurers to factor in future climate risks when setting ra