Florida suspends Allstate

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A District Court of Appeal suspended several subsidiaries of Allstate from selling new insurance policies, after ruling that the company could be punished for not providing documents explaining how it sets its property insurance rates. Previously, the Florida Office of Insurance Regulation issued a similar suspension in January, but the company appealed. State Insurance Commissioner Kevin McCarty says that the company has been submitting documents however, and that the suspension will probably not last very long.

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