State Farm, petitioning to leave Florida's property insurance market, has rejected a request by the state's chief financial officer to allow its captive agents to sell policies for rival carriers so homeowners have an easier time securing alternative coverage.
Currently, 826 State Farm Florida Insurance agents function as "captive" or dedicated agents, who under their contract can only place policies with State Farm or the state-run property insurer, Citizens Property Insurance Corp.
Florida CFO Alex Sink, who asked that State Farm producers basically be allowed to function as independent agents, made her request in a letter last week to State Farm Florida's president, Jim Thompson.
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