Seen in an Orlando Sentinel blog:
A short while after launching a hearing into Allstate’s insurance rates today, Florida Insurance Commissioner Kevin McCarty was so displeased with the company’s responses he abruptly called off the hearings.
“Allstate’s total lack of cooperation and responsiveness made it unproductive to continue the hearing,” McCarty said in a statement. “The bottom line is that it is not fair to Florida consumers that this company has not complied with our subpoenas and is not willing to explain to us their relationships with rating agencies, modeling companies and trade groups and how these relationships might have influenced the huge rate increases they have requested.”
I wonder if there’s a transcript someplace. I can imagine the hearing being either a situation where no truthful answer would be one that wouldn’t upset the Commissioner, and I can also imagine an insurer, feeling the “love”, would stonewall.
I suspect that reality is somewhere in between.