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California is becoming uninsurable
Today, Explained
State Farm's Decision to Not Do New Business in the California Home Insurance Market
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State Farm announced last month that it would not be doing new business in the California home insurance market. The company cited historic increases in construction costs out pacing inflation, rapidly growing catastrophe exposure, and each challenging reinsurance market. Rising construction costs are not specifically a California issue; there is an overall shortage of workers in residential construction.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode