The Golden State isn't so, well, golden, for the insurance industry.

After receiving a 'D' grade in R Street's Insurance Regulation Report Card in 2013, California followed it up with, you guessed it, an 'F' for 2014.

Vermont followed up its second place rank in 2013 by flipping positions with Virginia to claim the top spot in 2014. Showing a slight improvement, this year eight states received 'A' grades, compared to seven in 2013.

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