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ST. PETERSBURG, Fla. —Nearly two months into hurricane season and homeowners across the state are bracing to find out when their insurance company will stop insuring their homes.
Bankers Insurance Group is based out of St. Petersburg.
The company is pulling out of Florida’s home insurance market because they say state lawmakers didn’t do enough during the home insurance special session to combat fraud and litigation.
Policyholders will be notified of the cancellation within the state’s required 4-month window.
The company released a statement saying:
“This decision was difficult, however, necessary to allow us to grow responsibly and maintain our long-term financial objectives.”