Page 19 - Michael Soller News Today

Market needs "greater stability and regulatory flexibility," says trade association

State Farm will no longer homeowner insurance applications in California due to high construction costs and the growing threat of catastrophes and wildfires.

Laurel Duggan Daily Caller News Foundation State Farm will no longer take new homeowner insurance applications in California, a move the state government is blaming on climate change. The insurance company cited the high cost of construction in the state and the growing threat of catastrophes including wildfires in its Friday announcement. The California Department…

State Farm says it will stop selling home insurance in California, citing increasing wildfire risks and construction costs.

New York (CNN) — State Farm is stopping new home insurance sales in California, citing wildfire risks and skyrocketing construction costs, the company announced Friday.

New York (CNN) — State Farm is stopping new home insurance sales in California, citing wildfire risks and skyrocketing construction costs, the company announced Friday.

State Farm stopped accepting applications for all business and personal lines property and casualty insurance in California on May 27.

State Farm, the nations biggest car and home insurer by premium volume, has said that from Saturday it will no longer insure any homes in California, due to wildfire risk and rebuilding costs.

Https://youtu.be/EO0b964wooo Florida, Louisiana, Texas, California - Climate-driven Insurance squeeze spreading across America.Insurance companies have been on the leading edge of climate concerns since the 70s. Fun fact: I called in, and got thru, to Rush Limbaugh back around 1998 or so, and told him about those concerns, and that the clash between Insurers and oil…

The company blames 'increases in construction costs outpacing inflation, rapidly growing catastrophe exposure and a challenging reinsurance market.'