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Allstate Will Pay $17.5M Over Invalid Premium Hikes

Law360 (October 20, 2006, 12:00 AM EDT) -- An insurance regulator in the state of Maryland issued a $17.5 million fine against Allstate Corp. after the property and casualty insurer was found to have raised premiums for policyholders without justification.

The fine, which state officials characterized on of the largest in Maryland’s history, will be returned to more than 20,500 Allstate auto policyholders in the state, at an average of $850 per person.

In addition to the stiff restitution penalty, Allstate agreed to pay a $100,000 administrative fine, just shy of the $125,000 maximum...
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