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State Farm staying in Florida

BRADENTON — The Florida Office of Insurance Regulation announced today it has reached an agreement with State Farm for the insurance company to continue covering property insurance policies in Florida.

State Farm announced in January it was planning to withdraw from Florida’s property insurance market, putting more than 800,000 property insurance policies at risk of cancellation.

Insurance Commissioner Kevin McCarty said the Office of Insurance Regulation signed a consent order this morning with State Farm, and the agency has withdrawn its plan to not write property insurance policies.