Florida insurance commission sets terms for State Farm withdrawal

Kevin McCarty, Florida insurance commissioner, conditionally approved State Farm’s withdrawal plan from the state’s property insurance market with certain stipulations.

McCarty decided not to approve the plan submitted without conditions because State Farm intended to “dump” its customers into Citizens, which was “hazardous” to policyholders and the public, McCarty said in a release...

BizJournals: Florida insurance commission sets terms for State Farm withdrawal
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