TALLAHASSEE, Fla., April 5 (UPI) -- A Florida appeals court has upheld the state's right to suspend Allstate and nine affiliated companies.
Insurance Commissioner Kevin McCarty took the unusual step in January because Allstate had failed to submit documents for an investigation into its pricing. The appellate court ruled Friday that the state acted reasonably by limiting the suspension to the writing of new policies and that Allstate's failure to comply with the Office of Insurance Regulation could hurt Florida residents, the South Florida Sun-Sentinel reported.
"It's hard to contain my enthusiasm," McCarty said. Allstate executives "have created their own situation. They had an option to comply with the law."
Adam Shores, a spokesman for the insurer, said the company plans to ask the court to reconsider its decision. He also said Allstate has turned over more than 4,000 pages of documents.
The company has 14 days to submit an additional 196 pages the state says are critical.
