Effective August
1, Farmers to resume accepting applications from new
California customers for Auto
Service & Repair, Habitational, Manufacturing, Real Estate and
Wholesale Distribution Businessowner policies
WOODLAND
HILLS, Calif., May 14, 2024
/PRNewswire/ -- Farmers Insurance® today announced it
will resume accepting new business Commercial Multi-Peril
applications for Auto Service & Repair, Habitational,
Manufacturing, Real Estate and Wholesale Distribution policies in
California, as of August 1, 2024. This action follows the insurer
group's recent decision to lift its temporary moratorium on writing
new Commercial Automobile insurance policies in the state,
effective July 1, 2024.
"As a leading insurer of small businesses, we are excited to be
re-opening these key lines of our commercial insurance offerings to
new customers in California and
help provide business owners with more choices when shopping for
coverage options," said Eric
Coleman, president of Business Insurance for
Farmers®. "Farmers has operated in California for nearly a century, and while
challenges remain, we are encouraged by the positive changes taking
place in the state's commercial insurance marketplace."
For the past several months, Farmers has been working with the
California Department of Insurance (CDI) on plans to re-enter the
business insurance market after a temporary pause in offering
coverage for a subset of new business insurance policies. Farmers
continues to be a leading writer of small business insurance
policies, offering coverage for Artisan Contractors, various
Retail, Office, Service Industries, and Workers' Compensation
insurance in California, all of
which remained open for new business applications through its
temporary moratoriums.
"We have been consistent in our belief that a fundamental
condition for offering coverage is that rates need to reflect the
risk exposure we are insuring. Fortunately, through constructive
discussions with the CDI, we are now ready to take this step back
into the market," added Coleman.
Small business owners are encouraged to contact their local
Farmers agency owners for details regarding eligibility and rates.
For more information about Farmers, visit www.farmers.com.
About Farmers Insurance
"Farmers
Insurance®" and "Farmers®" are tradenames for
a group of insurers providing insurance for automobiles, homes,
small businesses and a wide range of other insurance and financial
services products. For more information about Farmers Insurance,
visit Farmers.com or follow Farmers on Twitter @WeAreFarmers, on
Instagram @WeAreFarmers and Facebook.com/FarmersInsurance.
Contact:
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External
Communications
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Farmers
Insurance
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818-965-0007
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reporterhotline@farmersinsurance.com
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SOURCE Farmers Insurance