Allstate Insurance Company and its affiliates “have agreed to comply fully” with a directive by the New York Insurance Department prohibiting carriers from refusing to renew homeowners policies unless they also have auto or life coverage with the same insurer, Insurance Superintendent Eric Dinallo announced last week.
Allstate had been called on the carpet by the department for allegedly ignoring a directive against nonrenewing coastal homeowners customers who haven't bought any of the carrier's other products.
The department said it issued its citation–which carried the possibility of civil penalties–after Allstate refused to comply with an Aug. 28 Circular Letter directing all property-casualty insurers to discontinue the practice of nonrenewing homeowners policies based upon whether the policyholder had other coverage with Allstate or its affiliates.
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