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Article: State Farm Tightens Up in Minnesota.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 23, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Tim Huber, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Jun. 23--State Farm Insurance Co. is cutting back its property insurance business in Minnesota to stem a steady stream of losses from bad weather and other problems in recent years.
Bloomington, Ill.-based State Farm, the nation's largest insurer of homes, has told the state Commerce Department that it has raised the standards for potential new buyers of homeowners insurance in Minnesota and stopped selling new policies for condos, apartments and other rentals. It also is excluding coverage for mold damage from homeowners policies.
State Farm also is raising ...