More insurers exiting California's home insurance market

Berkshire Hathaway’s AmGUARD as well as Falls Lake Fire & Casualty are pulling out of the state’s beleaguered home insurance sector.

This news comes just months after State Farm, Allstate and Farmers Insurance announced they would stop writing new home policies in the state. Additionally, Liberty Mutual recently pulled its business owner policy (BOP) line from the state starting this fall. Credit: Shutterstock.com

California’s home insurance market is set to suffer another blow as Berkshire Hathaway’s AmGUARD and Falls Lake Fire & Casualty Co. plan to withdraw from the state, according to filings with the state’s insurance department.

AmGUARD will stop writing personal line policies in the state effective August 21, 2023, according to a sample non-renewal notice. Additionally, the company, a subsidiary of WestGUARD, is also pulling its personal umbrella line from the state, as carrying an AmGUARD home policy is a requirement of the umbrella program, according to the company’s regulatory filings. This change affects policies with renewal inception dates of November 14, 2023.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].

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