image credit: Unsplash

Farmers pulls out of Florida, affecting 100,000 policies

July 12, 2023


Farmers will no longer offer coverage in Florida, ending auto, home, and other policies in the state, with the decision set to impact an estimated 100,000 policyholders.

The organisation notified the Florida Office of Insurance Regulation (OIR) of its decision. Insurers must give the office 90 days’ notice if they want to discontinue writing business in Florida.

Farmers will stop offering ‘Farmers-branded’ auto, home, and umbrella policies in the state as of July 11, 2023, and to implement a process to stop renewals of existing ‘Farmers-branded’ policies.

Read More on Reinsurance News