Safeco Halts New Condo and Renter Policies in California: What You Need to Know!

[Chris]

It seems another insurer is reconsidering its commitment to wildfire-threatened California. Safeco, a subsidiary of Liberty Mutual, plans to halt new condo and rental policies in the state at the start of next year. This move follows Liberty's earlier decision to stop underwriting these policies as well.

What implications do you think this will have on the market and homeowners' options? [Link to the full article here.](https://www.insurancejournal.com/news/west/2024/12/20/805665.htm)

 

[Markthebroker]

It's fine. Everything is fine. The insurance commissioner will fix everything. I'm fine. It's all fine.

 

[Al3x Lee]

Hold on... Let me act like I'm surprised

 

[Markthebroker]

I thought the market had bottomed out months ago. Apparently I was wrong.

 

[Markthebroker]

I want to know what @marindependent thinks.

 

[Allen Trent]

It seems another insurer is reconsidering its commitment to wildfire-threatened California. Safeco, a subsidiary of Liberty Mutual, plans to halt new condo and rental policies in the state at the start of next year. This move follows Liberty's earlier decision to stop underwriting these policies as well.

What implications do you think this will have on the market and homeowners' options? [Link to the full article here.](https://www.insurancejournal.com/news/west/2024/12/20/805665.htm)

In Safeco defense, they are owned by Liberty. So, Safeco shouldnt have their name tarnished by being a smart carrier to limit losses when it was Liberty that made the decision