State Farm Insurance says it has no plans to leave Florida after competitor Farmers Insurance became the latest insurer to reduce coverage in the state.
said this week that it is sticking with Florida and sees more opportunity there, thanks to the state's recent reforms for the industry, issuing a statement on the matter days after competitor Farmers Insurance became the latest insurer to reduce coverage in the state.
Florida's insurance market has experienced difficulties in recent years, with some private insurers becoming insolvent, and others choosing to halt coverage there altogether. Donna LaMountain, 51, surveys damage on Pine Island Road on Thursday, Sept. 29, 2022, in Matlacha after Hurricane Ian made landfall. Damage from hurricanes have put pressure on Florida's insurance market, and a number of insurers have left the state
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