Since the beginning of 2023, several major insurance companies have announced that they would stop writing policies or drastically reducing offerings in two of the three most populous states in the U.S.
Industry heavyweights such as Geico, Progressive, and Farmers have started leaving the California and Florida auto insurance markets, citing rising coverage costs and other changing market factors as the reasons for doing so.
Insurance regulators in both states have expressed concerns about the impact that a dwindling market could have on drivers. They’ve also voiced a looming fear that such moves could mark the start of a trend that
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