TITLE

State Farm to Quit Florida Residential P/C Business

AUTHOR(S)
Hemenway, Chad; Ackerman, Alyn
PUB. DATE
March 2009
SOURCE
Best's Review;Mar2009, Vol. 109 Issue 11, p94
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
36931332

 

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