The back-and-forth between Allstate Corp. and Florida continued on Friday, as Insurance Commissioner Kevin McCarty indicated he was removing a suspension on the insurer issuing new policies in the Sunshine State.According to McCarty, he was lifting the suspension because the insurer had complied with requests from the commissioner's office for documents.
It was just Wednesday that the First District Court of Appeal in Florida said no to Allstate's request for a rehearing to remove the original state ban. The company and a number of its insurers under the Allstate Corp. umbrella, were suspended by Florida's OIR in January, with the state saying the insurer had not entirely complied with a subpoena to testify about its affairs.
McCarty said any hesitation by the company to comply with OIR requests going forward would result in an immediate suspension again.
Allstate, which has not sold homeowner coverage in the state since 2004, is Florida's third largest auto insurer and fourth-ranked property insurer.
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1 comment:
Interesting! I have had All State Ins. for the past 12 years. When my renewal notices came this year, WOW, what a shocker! All coverage, cars,& house, had risien over 10%. Yikes!!! Needless to say, I have found another carrier.
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