°

Homepage / Miami News
Text Size

Court: Allstate Can Sell Policies Pending Appeal

POSTED: Friday, January 18, 2008
UPDATED: 5:22 pm EST January 18, 2008

An appeals court issued an order Friday allowing Allstate to keep selling insurance in Florida while it appeals an order to stop writing new policies.

State regulators on Thursday suspended the insurance giant's ability to write any new policies for what officials said was a failure to comply with a state subpoena in a dispute over the premiums the company charges for homeowners insurance in Florida.

The 1st District Court of Appeal on Friday stayed the order from the Office of Insurance Regulation pending the appeal, although it gave the OIR 10 days to show why the company shouldn't be allowed to sell insurance in the meantime.

"This allows our more than 1,100 agents and their employees across the state to continue to do business in Florida, to create jobs and to serve their communities," said Allstate spokesman Adam Shores. "We're going to continue to work with OIR to provide the information they've requested in their subpoena."

Insurance Commissioner Kevin McCarty has demanded information about why the company hasn't dropped rates to the satisfaction of insurance regulators following last year's passing of a bill meant to lower premiums. As part of that investigation, McCarty subpoenaed the company and officials at OIR said this week that the company appeared to be stalling and not giving up documents state investigators wanted.

The suspension had applied to all types of insurance sold by Allstate's 10 insurance companies doing business in the state.

Sponsored Links

Links We Like
Sponsored Content
You can pick your friends, but not your family -- or your neighbors. Here's what you need to know about how to deal with yours. More

Find out what a sputtering economy and an increasingly difficult to crack job market means to you. More

Are you often tired or rushed in the morning? Give your morning habits a makeover, and start the day feeling positive and energetic instead. More

If you're looking to save on your next new vehicle, a low sticker price is just one aspect. Consider all the costs and make the right decision. More

Most Popular