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State Battle With Allstate Continues

April 4th, 2008 by flanews

Allstate insurance may soon find itself unable to write new policies in Florida. The First District Court of Appeals in Tallahassee Friday upheld the states right to suspend the insurer from writing new policies until it turns over documents the state wants to see. But as Mike Vasilinda tells us, the company may get a second chance.

Hear it here: State Battle With Allstate Continues

The ruling leaves Allstate still in business and able to sell new policies, for now. The First District Court of Appeals did uphold the states right to cancel Allstate’s certificate to sell new business, but it is giving the company 15 days to ask for another opinion. Until that second opinion is issued it will be business as usual. Still, the State said the ruling sends a message.

“I think it’s important for people to know that this is not about a rate hearing. This is about corporate behavior and corporate activity and how and were they involved and did this company collude with associations,” said Kevin McCarty, The State Insurance Commissioner.

In its opinion the court sited the January hearing in which witnesses were uncooperative. The court noted that witnesses answered some questions in part, but were unable to answer probing question about the subject required by the subpoenas. The state said upholding its right to see every document not only sends a message to Allstate, but every company.

“We feel very strongly that its important for regulators to have free and full access to all of the records of an insurance company. That is a term and condition for doing business,” said McCarty.

Allstate said its has submitted nearly 4,000 pages to the state.

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