State Farm will not renew 30,000 property insurance and 42,000 commercial apartment policies in Californian upscale neighborhoods to ensure long-term sustainability, targeting areas with significant wildfire/fire post-earthquake hazards or high policy concentration.
State Farm's non-renewals are concentrated in upscale neighborhoods like Bel-Air, Pacific Palisades, and Beverly Hills, where percentages of policyholders affected range from 46.1% to 69.4%, focusing on areas with high risks of natural disasters.
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