TALLAHASSEE – Florida regulators have included Allstate in the state investigation of whether property insurers conspired to keep home premiums so high.

"The insurance industry is tenacious, they are greedy, they are working hard and they are skilled," said Gov. Charlie Crist, accompanying Insurance Commissioner Kevin McCarty to announce the expanded investigation.

"We have significant reason to believe some of these insurance companies are violating Florida law," Crist said, attacking insurers such as Allstate that have asked for rate hikes from 28 to 42 percent.

As with similar subpoenas against State Farm, Auto-Owners and Cincinnati Insurance, the state demands Allstate and its Florida subsidiaries turn over records of communications with its financial rating firm, reinsurance providers, and industry trade groups.

In addition, Allstate executives are required to appear at public hearings Jan. 15 and 16 in Tallahassee to answer regulators' questions.

Cincinnati officials—who in court motions accused McCarty and Crist of waging a political campaign rather than bona fide investigation – are scheduled to appear at their own such hearing on Thursday.

State Farm avoided its public grilling by settling with the state, agreeing to lower premiums on average an additional two percent.

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By Paige St. John - Florida Capital Bureau

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