Major insurance company to drop all condo policies in California

Major insurer Liberty Mutual is dropping all its condo policies in California, it has announced. The company, which is the fourth-largest home insurer in the state, has told regulators that it will stop offering new condo and renter policies next year. Existing policyholders will then see their coverage axed in 2026, according to filings with the California Department of Insurance. 'During this time of increasing risk and volatility, we are building a sustainable business path forward in California by simplifying our product offerings and investing in the areas where we can win in the long term,' a spokesperson told the San Francisco Chronicle.
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Major insurance company to drop all condo policies in California