TALLAHASSEE — Farmers Insurance Group announced Tuesday that it would no longer write new policies or renew existing homeowner, auto and umbrella policies, a day after Florida Chief Financial Officer Jimmy Patronis took to Twitter to threaten to take action if it did. “Hearing rumors @WeAreFarmers might pull out of Florida,” Patronis tweeted Monday afternoon. “If that’s true my office is going ...
Insurance is a suckers game if you are trying to get insurance on a piece of land that will be underwater in the next few decades. Who wants to take on a risk that is guaranteed to happen?