Allstate said it has stopped writing new homeowners' policies in coastal areas of Maryland and Virginia, expanding to seven the number of states in which it is limiting exposure to catastrophic losses from hurricanes and flooding.
Mike Siemienas, a spokesman for Allstate, said the decision was part of Allstate's "ongoing effort to limit our risk within our business to ensure that we can protect the assets of the 17 million households that now rely on us."
Allstate serves all states except Massachusetts, which it withdrew from several years ago because of regulatory issues.
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