Last week, three Allstate Companies (Allstate Insurance Co., Allstate Indemnity Co. and Allstate Property and Casualty Co., collectively “Allstate”) were suspended from writing new automobile insurance policies in the state of Florida by Florida Insurance Commissioner Kevin McCarty. According to Commissioner McCarty, the suspension is due to to Allstate’s refusal to comply with a subpoena requiring Allstate to turn over documents concerning its reinsurance program and that program’s relationship with risk modeling companies, insurance trade associations and insurance rating organizations. The suspension will be lifted once Allstate, the second largest automobile insurer in Florida, complies with the subpoena.
In a press release, Commissioner McCarty stated: “In view of Allstate’s ongoing, blatant disregard of our subpoenas, I have little choice but to take an action that will send a clear message about how seriously I am taking this issue.”
Click here to read a press release issued by the Florida Office of Insurance Regulation.
