A Florida Appellate Court ruled Friday that the Florida Office of Insurance Regulation rightfully suspended Allstate from writing new Florida policies because it failed to obey a subpoena regarding its property insurance operations in Florida. Allstate appealed and won but that opinion was now overturned. The issue in the underlying case is whether Allstate and other insurers joined to keep premiums high in contrast to Florida legislation designed to reduce insurance rates.
Allstate has 15 days to appeal the ruling and it is not clear when the suspension will actually start.
Hopefully with this ruling insurance companies will obey the law, just like you and I must do, or face the consequences. We also hope that the Office of Insurance Regulation will discover the truth behind the reason for our current insurance rates.
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