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Catastrophe Exposure

All articles tagged with #catastrophe exposure

State Farm stops offering new home insurance policies in California due to wildfire risks.
business3 years ago

State Farm stops offering new home insurance policies in California due to wildfire risks.

State Farm will no longer offer home insurance to new customers in California due to historic construction cost increases and rapidly growing catastrophe exposure, citing a challenging reinsurance market. The changes do not affect personal auto insurance. The company recognizes government officials and the California Department of Insurance for their wildfire loss mitigation efforts and pledges to work with them to help build market capacity in California.

via NBC News|
#business#california#catastrophe-exposure
State Farm stops selling property insurance in California
insurance3 years ago

State Farm stops selling property insurance in California

State Farm will no longer accept new applications for property and casualty insurance in California due to rising construction costs and growing catastrophe exposure. The change does not apply to personal auto insurance or existing home insurance policies. The company holds the largest share of property and casualty insurance policies in the US and controls about 8.3% of California's market. Property insurers have pulled coverage from tens of thousands of homeowners across the state in the wake of devastating wildfires.

via OCRegister|
#california#catastrophe-exposure#insurance
State Farm stops accepting new property insurance clients in California due to construction costs and wildfires.
insurance3 years ago

State Farm stops accepting new property insurance clients in California due to construction costs and wildfires.

State Farm will no longer accept new applications for property and casualty insurance in California due to rising construction costs and growing catastrophe exposure. The change does not apply to personal auto insurance or existing home insurance policies. The company holds the largest share of property and casualty insurance policies in the US and controls about 8.3% of California's market. Property insurers have pulled coverage from tens of thousands of homeowners across the state in the wake of devastating wildfires.

via OCRegister|
#california#catastrophe-exposure#insurance