Insurance Commissioner OKs State Farm's Exit From Florida

By RUSSELL RAY The Tampa TribunePublished: February 13, 2009Updated: 02/13/2009 02:32 pmFlorida Insurance Commissioner Kevin McCarty today approved State Farm's exit from Florida under a plan that would keep state-run Citizens Property Insurance from swelling.McCarty approved the company's plan to drop some 800,000 homeowners policies with several conditions."Our goal is keep as many homes as possible in the private sector at or below the rates that are currently being charged by State Farm," McCarty said during a conference call with reporters.State Farm has 21 days to agree to McCarty's conditions or request an appeal.Under McCarty's plan, the company must:? Give up its Certificate of Authority within 30 days.? "Facilitate the orderly transition of policies" to other