Kansas Insurance Commissioner Kathleen Sebelius welcomed the news that State Farm, the state’s largest writer of homeowners’ coverage, had decided to lift its moratorium on writing new business in the state.
The company stopped writing new business on a region-wide basis, including Kansas, in July. According to the bulletin from Sebelius’ office, State Farm advised the Department that “their claim’s frequency and cost of paying claims in Kansas has improved allowing them to offer new coverage statewide beginning October 4.”
“I am very pleased that their situation has improved,” Sebelius stated. “When the largest insurer in the state re-enters the new business market that is good news for all Kansas homeowners. We have a healthy homeowners market and this action further strengthens that position.”
The bulletin also noted that State Farm was “committed to grow only where they can be consistently profitable and meet their underwriting guidelines.” The company indicated it would “continue to monitor and evaluate all of their product lines and manage their growth.”
Topics Kansas
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