News Formal

State Farm stops accepting home insurance applications in California: 'Difficult place to do business'

  • 📰 FoxNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 87%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

State Farm announced it would stop accepting certain insurance applications in California citing 'cost-related reasons' as inflation continues to run rampant.

, citing"historic" increases in construction costs and inflation," the company said Friday.

"State Farm General Insurance Company made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market," the company said in a release."The Department of Insurance is focused on the safety of our homes and communities."said actions are necessary to improve its financial strength. State Farm agents in California will continue to serve existing customers, it said.

 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 9. in RU

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

State Farm will no longer insure new homes in California, company saysState Farm says it will no longer insure new homes and properties in California due to wildfires and rebuilding costs.
Источник: ABC7 - 🏆 67. / 68 Прочитайте больше »