Farmers Insurance said it will stop offering its policies in Florida, including for home and car insurance, in a change that will force tens of thousands of people to switch to a different insurance company.
In a statement, Farmers Insurance said it made the decision to manage its exposure to risk in Florida, a state that sees hurricanes and tropical storms nearly every year.
A Farmers Insurance spokesperson said on July 12, “Affected customers will receive notifications detailing when their coverage will end and will be advised of options for replacement coverage.”
The statement added that it was a “business decision” that is “necessary to effectively manage risk exposure,” adding that “Farmers offers insurance through several different brands, and this decision applies only to policies issued through our exclusive agency distribution channel.”…