Allstate Responds to Fla. Insurance Commissioner’s Regulatroy Actions

Jan 17, 2008

Allstate Responds to Fla. Insurance Commissioner’s Regulatory Actions

January 16, 2008

In a written statement responding to the Florida Insurance Commissioner suspending Allstate’s certificate of authority Wednesday, the insurer said it is committed to working diligently with the Office of Insurance Regulation to create solutions and ensure there is a healthy insurance market for Florida consumers.

“We were surprised at the OIR’s actions yesterday (Tuesday) and today (Wednesday) based on our dealings with them over the course of several months and dozens of phone conversations,” Allstate wrote.

Since receiving the subpoenas, Allstate says the firm has produced nearly 40,000 pages of information and will continue to produce responsive documents to the OIR on a rolling basis.

Allstate said it has not yet received an order and the company is currently evaluating its options.

At this time, it is not clear how this action will affect Allstate or the more than 1,100 Allstate agents in Florida who are small business owners and employers.

Allstate remains committed to providing service to our nearly two million customers in Florida.

Source: Allstate Insurance Co.
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