Another major insurance provider has announced it’s no longer selling new policies for personal and business properties in California, becoming the latest insurer to reduce its footprint in the state amid inflationary pressures and growing exposure to wildfire risks.
Allstate, the fourth-largest provider of casualty and property insurance in California, said in a statement obtained by The Epoch Times that it had “paused” providing new homeowner policies in the Golden State last year so that it can “continue to protect current customers.”
