State Farm Florida responds to OIR’s conditional approval

Over the past several weeks, State Farm Florida and the Florida Office of Insurance Regulation (OIR) have had productive conversations on the “conditions” attached to the OIR’s approval of the Company’s plan to discontinue its homeowners and related lines of business. These discussions have also included how to best move forward for State Farm Florida’s customers by establishing a process to help them find new coverage – while giving them the option to continue the relationships they’ve built over the years with their State Farm agents.

Under Florida law, State Farm Florida was required to respond to the OIR’s conditional approval within 21 days, and so the company made a filing on March 6 to preserve its right to an administrative hearing, should one be necessary.

Because discussions between the company and the OIR are ongoing, no additional details are available at this time.