Must announce it is stopping underwriting policies in the state altogether (canceling/nonrenewing existing policies), not just stop soliciting new clients.
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@KevinBurke in exchange for staying in the state and ceasing the block non-renewal program through the end of 2025, State Farm was allowed to make an emergency increase in rates. I believe the ceasing of the non-renewals is enough to make this market resolve NO. Do you agree? https://calmatters.org/economy/2025/05/state-farm-rate-hikes-decision/
State Farm increases California home insurance rate hike request to 30%
https://www.sfchronicle.com/california/article/state-farm-insurance-rates-20335755.php?utm_content=hed&sid=629dfb668e6adb11c9ad0612&ss=A&st_rid=edc88945-ae3c-4b5d-b6a9-d70a198cdfdd&utm_source=newsletter&utm_medium=email&utm_term=headlines&utm_campaign=sfc_morningfix
