Farmers Insurance will offer 2,500 more home insurance policies in California, amid insurer exodus.

California's second-largest home insurer, Farmers Insurance, will increase its home insurance policies by 2,500, offering some relief in a crisis where major insurers have left the market. Insurance Commissioner Ricardo Lara sees this as a positive sign of his reforms working. However, critics argue that the root problem lies in California's insurance regulation system, established by a 1988 ballot measure, which imposes price controls and leads to shortages, pushing insurers to leave the state.

3 months ago
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