State Farm announced this week it will not renew 72,000 policies in California amid a tight insurance market.
The California homeowners' insurance crisis reached another critical stage this week when State Farm General Insurance announced that it would not renew policies for 72,000 property owners across the state. The insurance giant announced Wednesday that it would not renew homeowner insurance policies for 30,000 customers, including owners of condominiums. It also plans not to offer commercial apartment policies and won’t renew the 42,000 now in place.
, warned lawmakers that the insurer of last resort had a surplus of only $200 million and was at risk of financial instability should a catastrophic event occur. “We grew another $10 billion in exposure in January and another $15 billion in February,” Roach told lawmakers.
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State Farm discontinuing 72,000 home insurance policies in California in latest blow to state marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer
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State Farm discontinuing 72,000 home policies in California in latest blow to state insurance marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer. The announcement this week comes nine months after the Illinois-based company said it would not issue new home policies in the state.
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State Farm discontinuing 72,000 home policies in California in latest blow to state insurance marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer.
Weiterlesen »
State Farm discontinuing 72,000 home policies in California in latest blow to state insurance marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer.
Weiterlesen »
State Farm discontinuing 72,000 home policies in California in latest blow to state insurance marketInsurance giant State Farm says it will discontinue coverage for 72,000 houses and apartments in California starting this summer.
Weiterlesen »
State Farm Insurance to non-renew 72,000 policies in CaliforniaState Farm, California's largest home insurer, plans to non-renew about 30,000 property insurance policies and 42,000 commercial apartment policies within the state.
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