Farmers: are they pulling out of certain states like California??
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You may be misreading things. Farmers Direct, an insurance company, is leaving California, not farmers. Farmers Direct, a subsidiary of Farmers Insurance, has chosen to discontinue offering home, vehicle, and renters insurance in California. They expressed a desire to manage risk and improve operational efficiency.
However, traditional Farmers Insurance continues to operate in California.
all about the sums and the perceived level of exposure to large-scale events. The state can engage in a game of chicken with the insurance sector, but eventually it will have to accept culpability if there is no availability on the part of the state plan. I recently paid my bill, which has doubled over the last two years and now exceeds my monthly mortgage payment. However, switching isn’t an option because it’s difficult to find someone to write new policies.