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Florida asks court to restore sales ban
Insurance |
2008/01/24 03:40
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The Florida Office of Insurance Regulation on Wednesday asked a court to reinstate its prohibition against Allstate Corp. selling new policies in the state.
Florida Insurance Commissioner Kevin McCarty last week suspended Allstate after he said it defied subpoenas seeking materials showing how it sets prices and resolves claims. "Allstate has continued to do everything it can to keep from providing the documents," he said in a statement Wednesday.
Allstate will "continue to provide the documents requested in the subpoenas," said spokesman Adam Shores. "Our agents are open for business."
The background: Northbrook-based Allstate won emergency approval Jan. 18 from a state court in Tallahassee to resume selling coverage after filing a motion saying the regulator "abused its power by issuing an emergency order that is intended to function as a punitive stick." McCarty's office was given 10 days to explain why Allstate's license should be suspended. |
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