Allstate’s Ban on Florida Production Expanded

Allstate’s Ban on Florida Production Expanded

18 January 2008 · No Comments

One of the odd things about Florida revoking Allstate’s right to produce new business in Florida was that the revocation applied only to certain legal entities used by Allstate. It seems that that weirdness has been addressed. From the AP:

A day after telling Allstate Corp. to stop writing new car insurance policies in Florida, state regulators told the company to stop writing any new business in the state—including home insurance.[...]

“I don’t know why you’d want to keep ‘em,” said [Governor] Crist, a longtime antagonist of many insurance companies he believes have gouged Floridians since the hurricanes that struck the state in 2004 and 2005. “I don’t know why you’d want to pay them money for anything.”

Tags: Insurance ·