Allstate Texas Lloyds must refund more than $56 million in rate overcharges to homeowners they insure, the Texas Department of Insurance said yesterday.
The announcement followed a judge's ruling last week affirming a 2004 order by Texas Insurance Commissioner Mike Geeslin requiring the insurer to reduce its homeowners insurance rates by 5 percent.
Allstate spokesman Joe McCormick said the company made the 5 percent reduction in May and is considering whether to appeal the order to make refunds.
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