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Stock impact report

State Farm change: Some California policyholders can keep coverage after moving [Yahoo! Finance]

Mercury General Corporation (MCY) 
Last mercury general corporation earnings: 2/10 08:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
state, according to new documents filed with the California Department of Insurance. (Jessica Christian/S.F. Chronicle) For the first time in more than two years, State Farm General has taken a small step toward reopening business in California. Starting in 2026, some State Farm renters and condominium policyholders will be able to maintain coverage with the company if they move within the state, according to new documents filed with the California Department of Insurance. State Farm, the largest insurer in California by far , hasn't written new homeowners, renters or condo policies since May 2023 , when it said increasing wildfires and rapid inflation affecting construction costs were straining the company's finances. That meant State Farm policyholders who moved would have to switch insurers - sacrificing any discounts they may have had for bundling auto and homeowners policies and throwing them into the chaos of finding new insurance amid California's difficult market. No Show less Read more
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