Will you be affected? 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.

It was not immediately clear Tuesday how much of an impact the Farmers move will have on Florida’s troubled property-insurance market, where insurers have dropped hundreds of thousands of policies and raised rates during the past two years. “If that’s true my office is going to explore every avenue possible for holding them accountable,” Patronis said in a Twitter post. “Don’t get to leave after taking policyholder money. Can’t write auto if you’re not doing homeowners either.”

United States United States Latest News, United States United States 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 »

Business Insurance Roiled by Climate, InflationBusiness insurance has been roiled by the same forces disrupting home insurance markets in catastrophe-prone areas of the U.S., with companies facing tougher conditions as they try to insure their properties
Source: WSJ - 🏆 98. / 63 Read more »