Allstate has once again been suspended from writing new insurance policies in Florida.
Florida Insurance Commissioner Kevin McCarty announced the immediate resumption of the ban late yesterday. The suspension is for all lines of business and will stay in effect until Allstate produces all the necessary documents requested by the Office of Insurance.
"I’m pleased to report that the First District Court today has again affirmed the appropriateness of the Office’s action in issuing the January Immediate Final Order suspending Allstate’s licenses to sell new business in Florida,” McCarty said. “It has denied Allstate’s request for a rehearing and has lifted the stay of the suspension. As a result, the suspension now is back in effect.”
"This case illustrates the effectiveness of an Immediate Final Order, such as the one upheld today by the District Court," McCarty added. "Were it not for that order, we do not believe that we would have the documents available for our ongoing investigation. We now have received hundreds of thousands of documents that Allstate had not previously produced."
An affidavit signed by an Allstate representative is expected by the Office of Insurance Regulation asserting that Allstate has produced all requested documents. Once the Office is in receipt of that affidavit, Commissioner McCarty will stay the suspension as long as Allstate continues to demonstrate compliance with Florida law and cooperation with the Office’s investigation.
For more on the Allstate saga, see a related story by clicking HERE.
