Anyone surprised to learn State Farm Florida will be staying in the State? h/t Chip Merlin’s Property Insurance Coverage Blog for the link to the official press release:
The Florida Office of Insurance Regulation (Office) today announced that Commissioner Kevin McCarty has issued a Consent Order that resolves the pending litigation between State Farm Florida and the Office over State Farm Florida’s plan to leave the property insurance market. By the terms of the Consent Order, State Farm Florida will remain a significant player in the Florida residential property insurance marketplace.“This agreement is the product of a long and arduous negotiation process,” remarked Commissioner McCarty. “The final result is beneficial to the people of the State of Florida, and beneficial to the Florida insurance marketplace. The consent order satisfies the Office’s requirements issued in our Order dated Feb. 13, 2009, and allows State Farm Florida to remain a viable insurer in the Florida market.” Continue reading “Home $weet Home for State Farm Florida”