Allstate to pull out of Florida

By
Real Estate Agent with Florida Homes Realty and Mortgage

Allstate is not happy with the State of Florida not approving a 47% increase for them.

They will have two years to pull out.

 

 "State Farmwants to stop writing property insurance in the Sunshine State.

It’s a decision that doesn’t come as much of a surprise to state regulators, who said Tuesday they have been hearing about the company’s plan for several months.

Florida’s largest private property insurer blames its decision on its inability to obtain state approval for rate increases.

“Faced with steeply declining resources to cover future claims and expenses, State Farm Florida has little choice,” said Jim Thompson, the insurer’s president, in a press release.

The request, which requires regulatory review, would eliminate coverage for homeowners, renters, condo-unit owners, personal liability, boats, personal articles, and business property and liability policies."

 

http://jacksonville.bizjournals.com/jacksonville/stories/2009/01/26/daily14.html?ana=e_du_pap

 

Posted by

Keith Shoemaker

Realtor

Florida Homes Realty & Mortgage

11512 Lake Mead Avenue Ste 701

Jacksonville, Fl. 32256

904-476-9117

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Florida
Groups:
Northeast Florida Real Estate Professionals
Realtors®
Tags:
insurance
allstate
florida
homeowners

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the leaf to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the balloons to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
29,437

Keith Shoemaker

Keith Shoemaker
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information