TALLAHASSEE, Fla., Feb. 20 (UPI) -- A regulatory authority in Florida threatened to suspend Allstate Companies' ability to write new policies in the state.
Florida Insurance Commissioner Kevin McCarty said the Office of Insurance Regulation filed a complaint based on Allstate's failure to respond adequately to a subpoena as the state probes Allstate's relationships with risk modeling companies, insurance rating organizations and trade associations. The move was outlined in a release on the insurance commissioner's Web site.
The complaint also alleges that Allstate has failed to properly file its rate filings.
Seeking to suspend a company's license is not something we take lightly," Florida's general counsel Steve Parton said in the release.
However, state officials said they believe Allstate has deliberately dragged its feet in complying with its subpoena.
The company first labeled documents the state requested as trade secrets, then filed more than 50 pages of objections to the subpoena, the release stated.