Allstate wins again - for now

The 1st District Court of Appeal again rejected Florida’s attempt to immediately stop 10 Allstate Insurance Corp. companies from writing new policies in Florida. But in its ruling late Wednesday, the court plus set the stage for what could be a quick resolution to the legal battle.

The court ruled that Florida regulators and Allstate have 40 days to submit paperwork supporting their positions. The court had initially stopped the state’s suspension of Allstate on Jan. 18, but Insurance Commissioner Kevin McCarty appealed that decision final week.

Wednesday’s decision allows Allstate’s 1,100 agents in Florida to keep writing new policies. The ban would have applied to all types of insurance sold by Allstate, but would

not affect existing Allstate policies.

Regulators want to know why Allstate, the largest publicly traded U.S. home and auto insurer, has not complied with legislation passed final year that directs insurance companies to lower their homeowner rates. Allstate had asked to raise its homeowner rates an average of 42 percent statewide, a inquiry that was denied in November.

Allstate has about 300,000 homeowners policies in Florida, about half the number it had four years ago.

McCarty said Thursday he remains committed to "get to the bottom of that issue and to ensure that Allstate is held accountable to the law.”

Tom Zucco, Times staff writer

Original post by tampabaycom

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