Upon the heals of subpoenas from insurance regulators for documents supporting 28.3 and 41.9 percent rate hikes, Allstate is sending notices to 100,000 more homeowners that there policies will not be renewed. The policy holders are being referred to Royal Palm of Volusia County for their homeowners coverage.
Governor Crist has been reported as calling the insurance companies “tenacious and greedy”. According to News4Jax.com, it is estimated that Allstate’s 2007 profits will exceed the record profits of $5 billion last year.
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