OIR To Hold Public Rate Hearing For Allstate Companies

 

The following media advisory was issued by the Florida Office of Insurance Regulation (“OIR”):

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-FROM THE FLORIDA OFFICE OF INSURANCE REGULATION

MEDIA ADVISORY
Nov. 9, 2007

WHAT:  PUBLIC RATE HEARING SCHEDULED FOR ALLSTATE COMPANIES – Allstate Floridian Indemnity, Allstate Floridian Insurance, Encompass Floridian Indemnity, Encompass Floridian Insurance    

WHEN:  Thursday, Nov. 15 at 1 p.m.

WHERE:  Senate Office Building, Room 401, at the Capitol

WHY:  The Allstate insurance group has submitted five residential property programs for rate approval; this includes four homeowners programs with proposed rate increases of 27.4 percent, 39.7 percent, 41.6 percent and 43.4 percent and a dwelling fire program with a proposed rate increase of 36.5 percent.

 

This hearing is unrelated to the subpoenas issued to the Allstate companies on Oct. 16 regarding the companies’ reinsurance programs, and their relationships to risk modeling companies, insurance rating organizations and insurance trade associations. 

The public hearing regarding these subpoenas is still scheduled for Jan. 15 and 16, 2008 at 9:30 a.m. in the Senate Office Building Room 401.

 

Contact:  Ed Domansky or Tom Zutell at 850/413-2515

 

 

Should you have any questions or comments regarding this information, please feel free to contact this office.