State Farm represents climax in deepening Cali homeowners’ crisis
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

State Farm represents climax in deepening Cali homeowners’ crisis

Firefighter Holding Hose Pointing Water Stream onto Fire

State Farm is the most recent, but by no means the only, company to pull back from business in California. Several other carriers have already completed similar moves in the state amid difficult conditions that challenge profitability, sources told this publication.

The carrier’s pullback represents the climax of a situation that has been brewing for many years, in which carriers struggle to obtain the rate increases required to offset reinsurance costs, increased cat activity and unabating inflation.


Request a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Gift this article