State Farm announced on July 13 it would recommit to providing property insurance to Floridians. The decision came just one day after one of its competitors announced its exit from the state.
“State Farm plans to continue our substantial presence in the Florida insurance marketplace. Our current plans include a commitment to responsible growth so that we can maintain the financial strength to deliver on our promises to our customers,” State Farm spokesman Roszell Gadson said in a statement.
“We are encouraged by the recent insurance reforms and efforts to curb legal system abuse, and we will continue to work constructively with the Florida Legislature and the Office of Insurance Regulation to improve the marketplace on behalf of our Florida customers.”…