The next time an insurance company threatens a partial withdrawal from an Atlantic coastal region, every state on the East Coast and the Gulf Coast should invite the insurance company to make a complete exit. That includes 20 states with coastal counties or parishes, which make up over a third (134 million) of the United States' population (300 million).Via Mr. Homan, I see that Allstate will "stop selling new home insurance policies in California and would continue to seek a 12% rate increase for its 900,000 existing customers."
That’s a sizable market to lose.
California's population in 2000 was over 33 million. Were California to join the similarly treated Gulf and Atlantic Coast States in asking Allstate to make a complete exit, the insurance company would be locked out of doing business with more than half (167 million) the population of the United States (300 million).
Now *that's* a sizable market to lose.