Allstate Insurance Company Barred From Writing New Business in Florida

June 17, 2008

The Kentucky Law Review has posted on an article from the ABA Journal’s website, titled Fla. Can Bar Allstate From New Biz, Unless It Reveals Rate Info., Court Says. According to that article:

A Florida appeals court ruled today that state insurance regulators have the authority to suspend Allstate from writing new policies because the insurance giant has failed to comply with subpoenas about their rates.

The state’s Office of Insurance Regulation is seeking pricing information from the Illinois-based Allstate Corp. Florida wants to know why the company’s property rates haven’t dropped even after a state law was enacted that was designed to reduce premiums, the Associated Press reports.

Click on the article heading to read the full story or click here to link to the court’s opinion. The opinion is a very interesting look at the position of Allstate and its intentional efforts to prohibit administrative review of its rate procedure, including labeling massive amounts of documents, even those posted on the web, as “trade secrets.”

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