On October 16, 2007, the Florida Office of Insurance Regulation (“FLOIR”) issued a subpoena to several Allstate entities requesting that they appear before the FLOIR to give testimony and produce documents concerning their reinsurance program, their relationships to risk modeling companies, insurance rating organizations or companies and insurance trade associations. The subpoena calls for the testimony to take place on January 15-16, 2008.
Click here to read the FLOIR press release.
Click here to read the subpoena.
Gov. Crist’s brief statement regarding the subpoena is as follows:
FOR IMMEDIATE RELEASE
TUESDAY, OCTOBER 16, 2007
(850) 488-5394
GOVERNOR CHARLIE CRIST
Regarding Property Insurance Subpoena
“The insurance industry is tenacious, but we are, too. We will remain vigilant and will continue to hold the insurance industry’s feet to the fire. Thanks to the good work of Senate President Ken Pruitt, House Speaker Marco Rubio and the Florida Legislature, we created significant insurance reform in Florida that gives Insurance Commissioner Kevin McCarty the tools he needs to hold property insurers accountable. I applaud the Commissioner’s work to ensure insurance companies are responsible and bring rates down.”