Allstate Seeks Florida Rehearing; Continues To Write BusinessApr 14,2008 00:00 by AP-NewsTALLAHASSEE, Fla. (AP)--Allstate Corp.'s (ALL) sales agents in Florida can keep writing new policies after the company asked an appeals court to rehear its suspension by state insurance regulators. The Illinois-based insurance giant would have had to stop writing new business if it failed to meet Monday's court deadline to review the case.
The 1st District Court of Appeals ruled earlier this month that Florida regulators have the authority to suspend Allstate's companies because the insurer failed to comply with state subpoenas seeking information on the company's pricing strategies. Allstate Corp. has roughly 300,000 homeowners policies in the state. ------------------------------------------------------------------------------------------------ The 1st District Court of Appeals ruled earlier this month that Florida regulators have the authority to suspend Allstate's companies because the insurer failed to comply with state subpoenas seeking information on the company's pricing strategies. Allstate Corp. has roughly 300,000 homeowners policies in the state. ------------------------------------------------------------------------------------------------ The 1st District Court of Appeals ruled earlier this month that Florida regulators have the authority to suspend Allstate's companies because the insurer failed to comply with state subpoenas seeking information on the company's pricing strategies. Allstate Corp. has roughly 300,000 homeowners policies in the state. ------------------------------------------------------------------------------------------------ Copyright © 2008 The Associated Press. All rights reserved. |