State Farm has been fined $150,000 and is ordered to stop coastal non-renewals for three years following a market conduct examination in Delaware.
The Delaware Department of Insurance says it looked at the insurer's practices after it decided not to renew about 510 of its more than 127,000 policies in the state.
State Farm spokeswoman Ann Bryant tells PC360 via email that the insurer "made a very difficult decision to not renew a small percentage of policies in Delaware," and that the company must "find the appropriate balance between our exposure and the resources available to maintain a quality level of service."
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