On November 21, 2009
State Farm Is Warming Up to Florida
After a two-year battle in which the nation’s largest home insurer packed its bags and almost left the Sunshine State, State Farm seems to be warming up to staying put in Florida. Part of the new feel-good era may have to do with the crumbling colossus of Charlie Crist, Florida’s governor and wanna-be U.S. Senator, who appears to have been abandoned by Republicans due to his more liberal stance. But of more importance could be the realization by Insurance Commissioner Kevin McCarty, who is no fool, that if State Farm left the homeowners market, it would throw 770,000 of the state’s policyholders into a state-run program that is already overburdened – and would double its size. State Farm threatened to leave…
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