epa10678661 A State Farm Insurance business in Los Angeles, California, USA, 07 June 2023. Insurance giant State Farm has officially ceased to accept applications for homeowners insurance from California state residents. State Farm declared that the new policy would officially take effect on 27 May 2023, citing historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market as the main drivers behind the decision. EPA/ALLISON DINNER
