Allstate Loses the Florida Battle
April 9, 2008
The Florida insurance commissioner, Kevin M. McCarty, said that Allstate had 15 days to appeal and that he was not sure when the suspension would take effect.
Allstate said it was reviewing the ruling, issued by the First District Court of Appeal in Tallahassee, but believed it was not yet final. Allstate said it would continue to write new business.
“We are very disappointed in today’s ruling and disagree with the court’s opinion,” Allstate said Friday.
The suspension would mainly affect new auto policies, because Allstate said previously it planned to reduce its homeowner policy exposure in Florida.
Mr. McCarty said of Friday’s decision: “This is good news for the people of Florida. This is good news for all those law-abiding companies doing business in our state.”