Page 36 - Mark Friedlander News Today

Florida's property insurance crisis is getting worse, and Farmers Insurance Group is leaving the state. It means close to 100,000 Floridians

State faces "a very rough situation"

Farmers Insurance will stop offering its policies in Florida, which includes home, auto and umbrella, in a change that will affect 100,000 people.

The move comes as insurance companies drop coverage in California, Louisiana and other states hit by disasters and high reconstruction costs.

Farmers Insurance is the fourth major insurer to pull out of Florida, adding to the growing number of companies that have become insolvent or left.

A number of insurance providers have left Florida over the last year, apparently driven away thanks to extreme weather and a challenging legal landscape.

Florida's beleaguered insurance industry may have turned a corner in 2023, with net income in the black for the first time since 2016 and much smaller

Amid Florida's ongoing property insurance crisis, another company is leaving the state altogether — Farmers Insurance Group.

As many as 100,000 people could lose home and auto coverage.

Amid Florida's ongoing property insurance crisis, another company is leaving the state altogether — Farmers Insurance Group.