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Farmers Insurance pulls out of the Florida market

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Farmers Insurance said it will end residential, auto and umbrella policies in the state, forcing tens of thousands of customers to look elsewhere for coverage.

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.

 

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