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In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
Insurance agent Larry Lee Jr. (born October 20, 1953) is a Democratic politician and a former member of the Florida House of Representatives , representing the 84th District, which includes eastern St. Lucie County , from 2012 to 2018.
State Farm is becoming a good neighbor to Florida again. The company regained its position as the state’s largest private market insurer — and No. 2 insurer overall — during the first ...
After 2010, eight global insurance carriers, including State Farm, entered or re-entered the Florida market. While the cost of reinsurance fell by 10% in 2010 and was expected to decrease more in 2011, the cost of insurance to consumers remained the same.
And so they’ve launched two class-action suits, one in Florida and the other in Georgia, claiming State Farm uniformly rejects repair estimates that exceed $4,700 per claim — when the market ...
Between 2020 and 2022, insurers canceled 2.8 million home coverage policies in the state.
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