State Farm to Quit Florida Residential P/C Business

Hemenway, Chad; Ackerman, Alyn
March 2009
Best's Review;Mar2009, Vol. 109 Issue 11, p94
Trade Publication
The article reports on the plan of State Farm Florida Insurance Co. to withdraw from the property insurance market in the state. The move was made since the company lost millions every month soon after it was denied a 47% statewide rate increase. Florida's Office of Insurance Regulation has approved its plan under a condition, in which State Farm should surrender its state certificate to write insurance.


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