As reported here, last month McCarty barred certain Allstate companies from writing new policies until they complied 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. After a court overturned that order, Gov. Charlie Crist encouraged Allstate’s Florida customers to switch to other insurers.
The administrative complaint filed earlier this week is based in part on Allstate’s alleged failure to provide witnesses and documents, which OIR subpoenaed. It also alleges that Allstate falsely labeled subpoenaed documents as trade secret and falsely certified its rate filings. The complaint further charges that Allstate violated Florida law by not properly certifying its rate filings as required by House Bill 1A, which was enacted in January 2007.
“Seeking to suspend a company’s license is not something we take lightly,” said OIR General Counsel Steve Parton. “However, in light of their defiance of the Florida Insurance Code, we think it is necessary to make the point that actions such as we have seen by Allstate will not be tolerated.”
Click here to read the OIR Press Release regarding the Administrative Complaint.
