State Farm will no longer insure homes, businesses in California due to fire risks and costs -
Friday that it will not take new applications for personal line or business property and casualty insurance in the state of California.
The reinsurance market refers to the practice of multiple insurance companies sharing risks for clients that are too big to handle for one company alone. Companies purchase policies from other insurance companies, thereby spreading the risk out at a manageable cost for those involved.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State Farm will no longer insure new homes in California, company saysState Farm says it will no longer insure new homes and properties in California due to wildfires and rebuilding costs.
Read more »
State Farm Halts Home-Insurance Sales in CaliforniaThe move by one of California’s biggest insurers is a blow to the state’s efforts for years to maintain a vibrant market for homeowners in the wildfire-prone state.
Read more »
State Farm halts new property insurance policies in CaliforniaThe company cited rising construction costs and its “rapidly growing catastrophe exposure.”
Read more »
State Farm ceasing new applications in California for property insurance due to ‘historic’ construction costsThe insurance giant cited ‘historic’ construction costs increases and inflation.
Read more »
California state track championships set for Friday and Saturday in ClovisThe state track and field championships set for Friday and Saturday at Buchanan High School in Clovis will provide another great setting for California's best athletes.
Read more »
Memorial Day weekend max enforcement begins Friday across CaliforniaCHP's 'maximum enforcement period,' will begin at 6:01 p.m. Friday and continue through 11:59 p.m. Monday.
Read more »