US: AAA pulls back from offering insurance in Florida, following Farmers

AAA will not renew the auto and home insurance policies for some customers in #Florida, joining a growing list of insurers dialing back their presence in the Sunshine State amid a growing risk of natural disasters.

"Unfortunately, Florida's insurance market has become challenging in recent years," the company said in a statement emailed to CBS MoneyWatch. "Last year's catastrophic hurricane season contributed to an unprecedented rise in reinsurance rates, making it more costly for insurance companies to operate."

https://www.cbsnews.com/news/aaa-insurance-home-auto-florida-crisis/

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