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insurers are fired up about California regulations and their right [Music] hello Im Steve Forbes and this is whats ahead where you get the insights you need to better navigate these turbulent times California is facing an insurance crisis for homeowners as well as for commercial businesses more and more Underwriters are refusing to sell new policies the latest is State Farm the largest provider of home insurance in California in the U.S it recently announced that has stopped accepting new applications for all personal and business Property and Casualty Insurance within the state of California existing policies wont be affected State Farm isnt alone Allstate the fourth largest provider in the state has ceased selling new home insurance policies last year Chubb AIG and other Underwriters have also been scaling back these pullbacks will particularly hurt home buyers and small businesses delivering another blow to a state facing a huge and expanding budget deficit with insurance availa
