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By
Associated Press
.
Published: Fri, May 16, 2008 - 1:31 pm
Last Updated: Friday, May 16, 2008 - 1:33 pm
Last Updated: Friday, May 16, 2008 - 1:33 pm
insurance companies can resume selling new policies in the state.
Insurance Commissioner Kevin McCarty lifted a suspension Friday
of the companies' ability to sell new policies. He says Allstate
has turned over documents about pricing that regulators demanded.
The state had suspended Allstate's ability to sell car insurance
and other types of policies because it said the company hadn't
complied with a subpoena for documents. A court upheld that
suspension this week.
But McCarty now says Allstate has sent regulators an affidavit
saying its companies have turned over all the documents.
The Office of Insurance Regulation sought the documents in
connection with an investigation into how Allstate sets homeowners
insurance premiums.
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I wish we could get an Insurance Commisioner like the one in Florida. Instead it seems like ours is on the payroll of the insurance companies.