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. The company said it needs to quickly rebuild its capital to prevent a “dire” financial situation after the Los Angeles wildfires destroyed thousands of homes. State Farm is California’s largest insurer. The company wants to increase premiums on homeowners by 22%. State Insurance Commissioner Ricardo Lara’s office said Friday he will make the final decision in April.