Company holds 1.2M policies in state hit hard, and often, by nature
(NEWSER) - Citing a “weakened financial position,” State Farm’s Florida operation is planning to completely exit the home insurance business there within 2 years, the Miami Herald reports. Such a move would need regulatory approval, and require a 180-day heads-up to affected homeowners. The move comes after the insurer, Florida’s largest with 1.2 million properties, could not obtain approval to raise rates drastically. More»