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Will Budget Woes Squeeze Out Industry Concerns?

But this year's session could be far-reaching for the state's insurance industry as well. The explosive news that State Farm, the state's largest private insurance carrier, has decided to pull out of

By Gary Fineout | Updated on February 28, 2009

Florida lawmakers will enter the 2009 legislative session fixated on the state’s economic woes and how to balance a state budget that keeps running in the red.

But this year’s session could be far-reaching for the state’s insurance industry as well. The explosive news that State Farm, the state’s largest private insurance carrier, has decided to pull out of Florida’s property market over the next two years threatens to transform the 60-day session into an all-out battle over insurance issues. Any number of actions could have dramatic consequences on the property and casualty market.

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