Farmers has put a cap on the number of homeowner policies it will write in California. Chubb and AIG are also cutting back. Now two more companies are exiting.
AmGUARD Insurance—a subsidiary of Berkshire Hathaway GUARD Insurance Companies—will withdraw its homeowners and personal umbrella programs in California, while Falls Lake Insurance will also end its homeowners program. Both companies made the announcements in little-noticed filings submitted to the state regulator on July 21…
But unlike heavyweights State Farm and Allstate, which declined to sign new homeowners business in the state, AmGUARD and Falls Lake will drop their existing policyholders.
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