Farmers Insurance pulls out of the Florida market

The company said the move will affect only Farmers-branded policies and will not affect policies sold in the state by subsidiaries Foremost and Bristol West. It indicated the Farmers-branded policies make up about 30 percent of the policies sold by the affiliated companies in Florida.

A source told The News Service of Florida that about 100,000 Farmers policies across the residential, auto and umbrella lines of business could be affected, though a breakdown by policy type was not available. That drew a retort from Rep. Hilary Cassel, D-Dania Beach, an attorney who represents policyholders in lawsuits against insurers.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Another major insurance company limits new homeowners insurance in California | CNN BusinessFarmers Insurance has limited new homeowners insurance policies in California, joining other major national insurance providers.
Source: CNN - 🏆 4. / 95 Read more »

Another major insurance company limits new homeowners insurance in CaliforniaFarmers, the second-largest provider of homeowners insurance in the state, said it placed the cap on the number of policies in California effective July 3. The company cited high costs and wildfire…
Source: mercnews - 🏆 88. / 68 Read more »