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Press Release

Florida Insurance Commissioner Kevin McCarty Suspends Allstate Companies from Writing New Insurance Business
Thursday, January 17, 2008
Contact Info:

Ed Domansky or Tom Zutell 
850-413-2515 

In follow-up to Wednesday's news conference, Florida Insurance Commissioner Kevin McCarty has issued an Immediate Final Order suspending the Allstate Companies (Allstate) from writing new insurance business in Florida until the companies fully comply with the subpoenas served Oct. 16 by the Florida Office of Insurance Regulation (Office). The Order applies to all new business.
  • Existing Allstate policyholders are not affected.
  • Policy renewals will not be affected.
  • Only new business is affected.

The key documents requested in the subpoenas go to the heart of the Office's investigation into possible inappropriate behavior by Allstate and ask for an explanation of the companies' relationships with rating agencies, modeling companies and trade groups and how these relationships might have influenced the huge rate increases they requested in September.


The Order is effective immediately and applies to all Allstate companies on which the subpoenas were served:

  • Allstate Floridian Insurance Co.
  • Allstate Indemnity Co.
  • Allstate Property & Casualty Insurance Co.
  • Allstate Insurance Co.
  • Allstate Floridian Indemnity Co.
  • Allstate Fire and Casualty Insurance Co.
  • Encompass Insurance Co. of America
  • Encompass Indemnity Co.
  • Encompass Floridian Insurance Co.
  • Encompass Floridian Indemnity Co.
Who:
What:
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Contact Info:

Ed Domansky or Tom Zutell 
850-413-2515 

About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. Business units within the Office are organized based on regulatory expertise and include the areas of life and health, property and casualty, specialty lines and other regulated insurance entities. It is within the Office that the mission of public protection is implemented through regulatory oversight of insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. 

For more information about the Office, please visit www.floir.com. If you would like to review and compare homeowners insurance rates in Florida, go to www.shopandcomparerates.com. ​​

 

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