Article: Texas Insurance Department Hopes to Keep Firm from Leaving Homeowners Market.

Byline: Claudia Grisales

Sep. 24--The Texas Department of Insurance proposed a settlement with Farmers Insurance on Monday in an attempt to keep the state's second-largest insurer from exiting the homeowners market.

Last week, Farmers said it was considering getting out of the home insurance market in Texas because of a dispute with regulators about its pricing policies. The Insurance Department has ordered Farmers to change what it claims are illegal pricing practices by Oct. 1 or face mounting fines and the possible revocation of its license.

On Monday, the department sent Farmers officials a proposed outline for a settlement that would keep ...

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