Seen on Insurance Journal:
Allstate Insurance Co. has no immediate plan to drop wind coverage for homeowners in 18 coastal parishes, but the insurer wants to find new ways to offset potential losses if more hurricanes trigger big claims in south Louisiana, the state’s top regulator said.
This comes in the wake of a threat made by Allstate to drop wind/hail coverage on the Louisiana Coast, and a meeting the company had with the Commissioner in the wake of that announcement. No word yet on what Allstate will be doing instead to bring their PML’s down.