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Florida''s insurance commissioner on Thursday suspended Allstate Corp.''s license to sell home insurance. Yesterday the commissioner announced he was suspending Allstate''s ability to write car insurance in the state.
The move means the company, one of the largest insurers in the country, cannot sell new policies in the state, for the time being. It doesn''t effect policies currently in force. Allstate has dropped about 321,000 home-insurance customers in Florida in recent years as it tries to curtail its exposure to potential losses from hurricanes. So the inclusion of that line of business in the regulator''s action may have a limited impact on consumers.
Added on: Fri Jan 18, 2008 1:59 am by :
Quenlin
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