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In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
And so they’ve launched two class-action suits, one in Florida and the other in Georgia, claiming State Farm uniformly rejects repair estimates that exceed $4,700 per claim — when the market ...
After 2010, eight global insurance carriers, including State Farm, entered or re-entered the Florida market. While the cost of reinsurance fell by 10% in 2010 and was expected to decrease more in 2011, the cost of insurance to consumers remained the same.
State Farm is becoming a good neighbor to Florida again. The company regained its position as the state’s largest private market insurer — and No. 2 insurer overall — during the first ...
State Farm said in March it would not renew roughly 30,000 homeowners, owners of rental dwellings and other property insurance policies. It also said it would stop offering commercial polices to ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
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