> Farmers Insurance Group stops writing new property policies in Florida
Farmers Insurance Group stops writing new property policies in Florida
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Description
A major property insurer in Florida is putting a pause on writing new homeowners policies due to the increased risk of catastrophic weather.
As Florida deepens into hurricane season, Farmers Insurance Group is taking a refreshed look at the state — and, ultimately, what level of risk it's comfortable with.
"With catastrophe costs at historically high levels and reconstruction costs continuing to climb, we implemented a pause on writing new homeowners policies to more effectively manage our risk exposure," Famers Insurance Group said in a statement.
For more: https://www.wtsp.com/article/news/regional/florida/farmers-insurance-group-stops-writing-new-property-policies-florida/67-468800f6-b33d-42da-a95d-3415e8044ba3
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