Insurance Crisis Creeps North
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Published: Wed, May 14, 2008 - 1:32 pm
Last Updated: Wed, May 14, 2008 - 1:36 pm
Last Updated: Wed, May 14, 2008 - 1:36 pm
Allstate Companies can be suspended from writing new car insurance
policies and other coverage.
The Florida Office of Insurance Regulation had suspended
Allstate from writing policies in January because the company
hadn't turned over records to the office's satisfaction. But the
company was allowed to continue writing policies while it appealed.
Today, the First District Court of Appeal said the state could
re-institute the suspension.
Allstate has said in the past that it has turned over thousands
of pages of documents and believes it is trying to comply with
subpoenas. The company says it's reviewing the court ruling.
Allstate could further appeal today's ruling.
The decision mostly would impact the company's car insurance
policies, although it would likely cover other policies.
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Alabama needs to look at Florida as an example of how to deal with the insurance companies. Instead of Alabama suing the insurance companies they are letting them write the insurance laws. I saw the interview with Alabama’s Insurance Comissioner and it made me so mad. When he said well what can we do they have alot of influence. I was thinking can this guy be impeached because it sounds like he is not even doing his job. And even though they broke laws by cancelling policies that did have car insurance too, they were not even punished or fined or anything.