California
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- California
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That's pretty alarming when a major insurance company is out of cash...
Insurance distorts housing markets, allows builders to take unreasonable risks, etc.
I strongly suspect that this is some kind of internal fuckup, not State Farm being insolvent.
probably just waiting so they can get some interest before releasing the funds first.
As someone that works in corporate America that would take too much common sense to execute on, its likely incompetence.