State Farm Exit puts floridans in a spot

Feb. 14, 2009 - PRLog -- State Farm's decision to quit providing homeowners insurance in Florida shows that the state's insurance market simply can't survive in its current form. Moreover, the company's exit won't merely leave 1.2 million Florida homeowners scrambling for a reliable insurer, but it also will add to the financial risk that Florida would face if costly storm damage were to occur.

Indeed, unless Gov. Charlie Crist and the Legislature swiftly make several painful but necessary changes to Florida's current insurance system, State Farm's retreat places the entire state in grave fiscal peril.

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