As Allstate and Florida regulators battle over a possible license suspension of that company, another major insurer has said it will cease writing new business in the Sunshine State.
State Farm, the largest privately owned insurer in the state, has told the Florida Office of Insurance Regulation that it will not write any new policies in the state.
Edward Domansky, a spokesman for the OIR, said the move was "a business decision that State Farm made, and one they are allowed to make without the commissioner's approval."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
