Allstate Asks State for Rate Hikes
November 15th, 2007 by flanewsThe Allstate Insurance Company appeared before state regulators Thursday.� The company wants to increase some property and fire insurance premiums by a quarter to more than a third.� Allstate says it is losing money in Florida, despite posting near record profits companywide.� Allstate says it is committed to doing business in Florida.
�We are committed to the Florida property market and I wouldn�t want to speculate about on what may or may not happen with this particular rate hearing,” said Allstate spokesman Adam Shores.� “But we are committed to our customers here.� We�ve made a commitment to be there for them, to meet the promise we�ve made to them. And we�re going to stand by that commitment.”
Allstate is one of several companies that will have to answer to regulators next month about possible collusion.
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