Florida's Chief Financial Officer Tom Gallagher announced todaythat a review of Allstate Floridian Insurance Company's request fora 28.2 percent average increase in homeowners' rates found"deficiencies and raises troubling questions about the company'smotives in seeking rate increases."

He charged that Allstate's Florida company had tried to justifyraises in local rates based on Allstate losses in other states.

In response, company spokesman Ryan Priest said the companybelieves its request is "necessary, justified and legal."

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.