State Farm Florida asks for review of conditional pull-out plan

State Farm Florida Insurance has filed a petition with the Division of Administrative Hearings in Tallahassee asking for a review of the conditional approval of its plan to quit selling property insurance in Florida within three years.

Chris Neal, a State Farm spokesman, said the filing was primarily procedural to preserve the company’s right to a hearing if one was needed down the road. The company had to petition the Division of Administrative Hearings within 21 days of the Office of Insurance Regulation’s approval. Since the OIR issued its conditional approval, the insurer and regulators have been negotiating to find the best transition for State Farm’s one million policies, including more than 700,000 homeowners’ policies, to other private insurers...

Bradenton Herald: State Farm Florida asks for review of conditional pull-out plan