Farmers Insurance drops 100,000 policies in Florida

[LetMyPeopleVote]

DeathSantis is turning Florida into a third world country. Homeowners either cannot get home insurance or have to pay a great deal more

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https://www.orlandosentinel.com/2023/07/11/farmers-insurance-pulls-out-of-florida-angering-patronis/

TALLAHASSEE — Farmers Insurance Group announced Tuesday that it would no longer write new policies or renew existing homeowner, auto and umbrella policies, affecting about 100,000 customers, a day after Florida Chief Financial Officer Jimmy Patronis threatened to take action if it did......

The state agency on Tuesday received a “market reduction notice from Farmers Insurance Group,” communications director Samantha Bequer said in an email to the Orlando Sentinel. “OIR is reviewing the notice in accordance with applicable Florida Statutes.”....

Since DeSantis was first sworn in as governor in 2019, property insurance rates have ballooned to an average of $4,231, nearly triple the national average of $1,544.

A Florida Watch report published in cooperation with the American Federation of Teachers showed that DeSantis collected nearly $4 million in campaign donations from insurance companies. Since he was inaugurated in January 2019, the industry has donated $9.9 million to legislators, the report said.

[LetMyPeopleVote]

1. Farmers Insurance has just pulled out of Florida where they insure 100,000+ homes.

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Farmers Insurance has just pulled out of Florida where they insure 100,000+ homes.

Below is a video I took of Fort Myers Beach just last week, 9 months after Hurricane Ian hit us. There are literally hundreds of homes and businesses still like this. Although we are rebuilding the area, much more can be done.

The insurance crisis in this state is getting pretty bad. Many rates are rising between 50-90% and multiple companies are leaving the state. My personal homeowners insurance policy is costing us $8500 annually and we have a newer home built to some of the best standards.

I would love to hear what Ron DeSantis has planned to rectify this situation.

[Aviation Pro]

2. It's just business

So, fuck ‘em.

[Blue Owl]

3. Suck it DeSantis -- you're turning your own state into a shithole

[LetMyPeopleVote]

4. DeathSantis fails Florida again

Link to tweet

[CaptainTruth]

5. Meanwhile DeFascist flies around the country repeating "woke" like a wind-up doll.

He hasn't done a damn thing to help the residents of Florida.

[moniss]

6. I think if the Florida

regulators try to demand that Farmer's do business with Floridians then Farmer's should just avail themselves of the recent SC decision and say they don't want to because it is against their deeply held beliefs.

[twodogsbarking]

7. They would do anything for funds, but they won't do that.

[LetMyPeopleVote]

8. AAA pulls back from offering insurance in Florida, following Farmers

DeathSantis is destroying the Florida economy

Link to tweet

https://www.cbsnews.com/news/aaa-insurance-florida-crisis-farmers/

AAA will not renew the auto and home insurance policies for some customers in Florida, joining a growing list of insurers exiting the Sunshine State amid a growing risk of natural disasters.

"Unfortunately, Florida's insurance market has become challenging in recent years," the company said in a statement emailed to CBS MoneyWatch. "Last year's catastrophic hurricane season contributed to an unprecedented rise in reinsurance rates, making it more costly for insurance companies to operate."

AAA declined to say how many customers won't have their policies renewed, saying only that the change will affect "a small percentage" of policy holders.

The company is the fourth insurer over the last year say it is backing away from insuring Floridians, a sign extreme weather linked to climate change is destabilizing the insurance market. On Tuesday, Farmers Insurance said it will no longer offer coverage in the state, affecting roughly 100,000 customers.