“We are disappointed by the hastiness in this decision and troubled by how this decision may have cascading impacts to policyholders,” he wrote.įarmers said in a statement that the decision was based on risk exposure in the hurricane-prone state and that notifications would be sent out to affected policyholders along with advice on replacing coverage. Yaworsky noted, though, that the state’s recent law changes did not influence Farmers’ decision. “Florida’s leaders have stepped up to the plate by delivering historic reforms to Florida’s property insurance market to ensure competitiveness and increase consumer choice,” the insurance commissioner, Michael Yaworsky, wrote to the company. The state’s insurance regulation office sent a letter to Farmers responding to the notice that it does not plan to write new policies. Most of the focus has been on shielding insurance companies from lawsuits and setting aside money for re-insurance to help protect insurers. The legislature has grappled with the issue each of the last two years, including a special session in December. Critics of DeSantis, who is seeking the 2024 Republican nomination for president, say he has focused too much effort on divisive cultural issues and not enough on making housing and insurance more affordable.
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