Free Republic

Saying its finances are weakened, State Farm's Florida unit wants to get out of the business of property insurance in the state. The company, Florida's largest private insurer of homes and condos with 1.2 million policies, wants to keep only auto insurance, it said in a statement. Other State Farm units would still sell life, health and other financial services, it said in a statement. Under State Farm's proposal, it would phase out of the property insurance business over two years, giving existing customers time to find new coverage. If State Farm's plan is approved by state insurance regulators, that...