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Florida Supreme Court denies Allstate appeal

Allstate had a rather large door slammed in its face Wednesday.

In a two-sentence order, the Florida Supreme Court denied a motion by the insurance giant to reopen its case against state regulators.

Allstate had asked the high court to review a 1st District Court of Appeal decision allowing regulators to stop the Illinois-based insurer from selling any new insurance policies in Florida until the company turned over documents subpoenaed by the state. Regulators say the documents are key to an investigation of Allstate's rate-setting process.

Insurance Commissioner Kevin McCarty lifted the ban May 18, saying Allstate was delivering the documents regulators wanted.

But two days later, Allstate went to the high court and asked for a rehearing.

McCarty said in a statement Wednesday that he was pleased with the court's decision.

Allstate still faces the possibility of fines or a suspension as a result of a hearing set for Sept. 15. An administrative law judge will make a recommendation to McCarty, who can accept or reject the judge's order.

Tom Zucco can be reached at [email protected] or (727) 893-8247.

Florida Supreme Court denies Allstate appeal 06/18/08 [Last modified: Thursday, June 19, 2008 1:30pm]
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