Florida Yanks Allstate's License To Write New Policies

Law360, New York (January 17, 2008, 12:00 AM EST) -- Florida's insurance commissioner has yanked permission for Allstate Corp. to write new auto insurance policies in the state until the company responds fully to a subpoena requesting documents related to the company's pricing methods.

Florida officials have been eager to get answers from insurance companies on why premiums are still high, even after Florida lawmakers reformed insurance regulations last year with an eye towards boosting savings for consumers.

The unprecedented move comes a day after Commissioner Kevin McCarty abruptly stopped a scheduled two-day hearing Tuesday into...
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