Seen in an Orlando Sentinel blog:
Insurance Commissioner Kevin McCarty—his first effort rebuffed by the 1st District Court of Appeal—is still trying to suspend Allstate’s license to sell insurance in Florida. Angry because the Illinois-based company has refused to produce internal documents that the Office of Insurance Regulation subpoenaed months ago, McCarty filed a 62-page complaint seeking an administrative hearing on whether the company’s license should be suspended.
The filing, to a judge in the Division of Administrative Hearings, is filed on a “non-emergency basis,” meaning it would take months—maybe years—to get a final decision. But it’s more pressure on the company to give up its documents, most of which relate to the company’s use of computer risk models to set property insurance rates.
The Sentinel also helpfully provides a copy of the complaint for those who would like to wade through the legalese (or who just desire a legalese-triggered migraine). While I’m not a lawyer, it appears that the OIR is officially upset over Allstate’s stamping every subpoenaed document as a “trade secret”, as well as CEO’s failure to review each and every page of every rate filing made by Allstate’s legal entities in Florida.
However the continuing antics with Allstate almost make Tuesday’s Senate committee meeting on affordability seem anticlimactic.
Speaking of which—for those who are so inclined, transcripts of the prior committee meetings are also now available. (4 Feb and 5 Feb)