About 1,600 policies for Pacific Palisades homeowners were dropped by State Farm in July, the state insurance office says.

Perhaps the most interesting part of the article:

  • Jarvis2323@programming.dev
    11·
    4 months ago

    They are restricted. California has an insurance commissioner who has to approve any rate increases. It’s probably easier to stop insuring then to get the rates up to the profitability margin their risk models are suggesting are appropriate.