Farmers Insurance says the marketplace has improved in California and that they can now expand the number of policies it can write each month.
Farmers is California's second-largest home insurer and the largest business insurer. It now says California's "improved insurance marketplace" allows it to expand the number of policies it writes each month. But, does that mean California's insurance drought is ending? With a total 8.4 million homes insured in California, owners constantly worry about losing their insurance at an insurer's whim.
"Under the reforms we're putting in place, insurance companies, in order to utilize these tools like modeling, they have to write more policies, That's the change and we'll enforce that through our rate authority," said California Deputy Insurance Commissioner Stoller.Two other panel members said this. "None of the changes that the Insurance Commissioner announced have actually changed the market yet.
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