Farmers Insurance, the second-largest home insurer in California, has announced plans to significantly expand its coverage options for homeowners and other property types, signaling what the company calls an improvement in the state’s insurance market.
Tag: Farmers Insurance
Farmers to Resume Offering Key Lines of Business Insurance in California
Farmers Insurance® announced it will resume accepting new business Commercial Multi-Peril applications for Auto Service & Repair, Habitational, Manufacturing, Real Estate and Wholesale Distribution policies in California, as of August 1, 202
Slide Acquires Renewal Rights for Farmers’ Homeowners Policies in Florida
Slide Insurance, the full-stack insurtech providing effective homeowners coverage for the Florida market, today announced it has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance®.
Farmers Insurance Says It’s Cutting 2,400 Jobs
Farmers Insurance said Monday it will lay off 11% of its workforce — about 2,400 employees — as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability.
Status of the Property Insurance Market in Florida
Florida is frequently the target of increasingly severe natural disasters like hurricanes, floods, and other calamities that drastically affect the property insurance market.
State Farm to Remain in Florida as Farmers Insurance Pulls Out
Gov. Ron DeSantis’ office confirmed that State Farm Insurance plans to continue its presence in the Florida insurance marketplace after Farmers Insurance declared plans to leave the state.
Insurer’s Retreat in Florida Signals Crisis with No Easy Fix
Insurers are trapped in a riddle: In a world where the risk of costly disasters is rising but high premiums are squeezing policyholders and angering state regulators, how can they continue to make money?
Farmers Insurance Is Leaving Florida in Latest Blow to Homeowners
Farmers Insurance is the latest insurer to leave Florida, where homeowners are paying more than ever for insurance, despite the state’s attempt to shore up the wobbling market.
Florida CFO Threatens Investigation of Farmers Insurance Amid Exit
Florida Chief Financial Officer Jimmy Patronis announced on Tuesday that his department would look into complaints against Farmers Insurance, which is set to exit Florida’s insurance market.
Farmers Makes Coverage Available to Some CA Homeowners in Wildfire-Prone Areas
Thousands of California residents who only can buy homeowners policies through the state’s last-resort insurance program will now be eligible for Farmers Insurance coverage. Farmers’ ability to offer insurance is related to a partnership with the startup Zesty.ai, which will enable Farmers to use artificial intelligence incorporating high-resolution aerial imagery, building-material and code data and… Continue reading Farmers Makes Coverage Available to Some CA Homeowners in Wildfire-Prone Areas