AAA pulls back from offering insurance in Florida, following Farmers - eviltoast

More insurance companies are fleeing the state because of the growing threat from natural disasters.

  • TheDarkKnight@lemmy.world
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    1 year ago

    Most insurance companies strive to avoid excessive profits, honestly and aim for a combined ratio of something less than 5% profit. It’s a fairly competitive field, getting greedy results in losing policies and is very price reactive. Consumers can change pretty easily and do so regularly.