Lars Powell on State Farm’s California Exit
Newsweek
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ICLE Academic Affiliate Lars Powell was quoted by Newsweek in a story about State Farm and other property insurers exiting the California market ahead of this year’s tragic wildfires. You can read the full piece here.
Assuming State Farm followed its policy provisions, its actions were legal. If the law is applied fairly and accurately, they will not face any legal exposure.
By non-renewing a handful of very expensive houses in Pacific Palisades, they were able to reduce their exposure and continue insuring many more modest homes in California.