Progressive Insurance temporarily restricting homeowners policies in Texas

In a letter from Progressive CEO Tricia Griffith to stakeholders, Griffith revealed that they would temporarily stop writing and renewing homeowners insurance policies in Texas.
The company Progressive Insurance says that this change only applies to homeowner’s insurance and aims to reduce the impact on their company from weather-related liability.
A spokesperson for Progressive Insurance provided KWTX with a statement:
"We are temporarily restricting new homeowners (HO3) business for certain agents in several states including Texas. We remain committed to the property business in these states and expect that these actions will better position us to build a stronger, more stable, and more competitive Progressive Home business for consumers and independent agents in the long run. These actions will not impact any other lines of business in the affected states; impacted agents can continue to write Personal Auto, Recreational Lines, and Commercial Lines products. Additionally, property-appointed agents can continue to offer Renters, Condo, Flood, and Umbrella."
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Another way to ensure that homeownership will move even more out of reach of the majority of ordinary, working Texans. Just like in Florida. Or California. Amd guaranteed insanely high rates.