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Home insurance could be worse

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State Farm announced last week that it will stop doing business in Florida, the first big firm to follow through on industry complaints about the state government regulators who impose price controls and maintain a prohibition on “excess profits.” The company announced its departure after regulators rejected its proposed 47 percent average policy rate increase.

The situation is reversed in Louisiana, another hurricane-prone state where insurers see more — not less — opportunity to do business and make a profit.

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