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https://ktla.com/news/california/2-more ... alifornia/
Two more insurance companies have announced plans to withdraw from the insurance market in California.
According to filings from the state’s Department of Insurance, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co. said they would both stop offering homeowners and personal umbrella insurance in the Golden State.
Both entities are subsidiaries of Tokio Marine Holdings Inc., a Japanese company.
In March, State Farm General Insurance Company announced plans to non-renew about 72,000 policies in California, impacting property insurance and commercial apartment policies.
Last year, the company also announced it would stop accepting new insurance applications for all business and personal property in California.
Since then, companies like Allstate, Farmers Insurance, and The Hartford insurance have announced similar moves.
