Homeowners' insurance

Farmers Insurance becomes the latest major national carrier to pump the brakes in California, limiting new business to only 7,000 policies per month, signaling further problems in the state’s homeowners’ market.

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Sources said the Japanese insurer will pull back from the California personal auto market in June 2025 as it is set to exit the state’s admitted personal lines market on June 1, 2026.

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The decision applies only to policies issued through the company’s exclusive agency distribution channel.

The news comes just over a month after two other large carriers, State Farm and Allstate, announced that they’d no longer accept new business in the state.

Inside P&C’s news team runs you through the key highlights of the week.

Personal lines underperform predictions, while brokers and InsurTechs are a positive surprise (for now).

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The bureau reported that based on total counts, nearly 90% of claims related to the wildfire, which lasted from May 28 to June 4, were filed in the homeowners market.

Inside P&C’s news team runs you through the key highlights of the week.

Inside P&C’s morning summary of the key stories to get you up to speed fast.