State Farm will not renew more than 70K property policies in California [Yahoo! Finance]
Hartford Financial Services Group, Inc. (The) (HIG)
Last hartford financial services group, inc. (the) earnings: 4/29 04:15 pm
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Source: Yahoo! Finance
The company is withdrawing completely from offering commercial apartment policies — which impact multifamily property owners, not renters insurance policies — in California. Combined, the policies to be eliminated represent about 2% of State Farm General's policy count in California. The policy interruptions will take effect on July 3, 2024, for homeowners, rental dwellings, residential community associations, and business owner policies. They will take effect Aug. 20, 2024, for commercial apartment policies. “This decision was not made lightly and only after careful analysis of State Farm General's financial health, which continues to be impacted by inflation, catastrophe exposure, reinsurance costs and the limitations of working within decades-old insurance regulations,” the company said in a statement. “State Farm General takes seriously our responsibility to maintain adequate claims-paying capacity for our customers and to comply with applicable financial solvency laws. It
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HIG
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- 4/25/24 - Miss
HIG
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/5/24 - Form ARS
- HIG's page on the SEC website