Allstate should make a business decision, pull out of Florida entirely. They don’t need the state and the rest of the country doesn’t need to support it. Let the gov have his way and when the next hurricane hits, Allstate can laugh all the way to the bank. I feel sorry for their agents but at this point if you can’t sell new business, you are dead in the water!
I have to agree with you Sandman. Some of the documents being demanded by FL OIR have nothing to do with HO policies, nor how property claims are handled. Why does OIR need information on how injury claims are evaluated under an auto policy to determine if Allstate is in compliance on HO policies. I realize there is a lot of money to be made on auto policies in FL, but is it really worth it when you have governmental regulation (socialism?) of insurance? Just my thoughts…
I agree Sandman. How embarrassing for Allstate to be out-maneuvered by those hacks at the OIR and the governor. Those idiots are nothing but predictable. Allstate played this poorly.
They should have did like Farmers in Texas. Send out 800,000+ non-renewal letters in one day. The state knew they meant business and since the notices had been sent there was not anything the state could do but settle or risk a major company leaving the state. To this day they have never refunded a single dollar to the policy holder as ordered by the state. Allstate has been trying to get along and that is their mistake.
Right now the OIR and FL legislature is so adversarial towards all property carriers. They think they can stomp there foot and all the carriers will jump to their demands. And their solution? If not, just stick it in Citizens. It is a boneheaded mentality that is going to burn all FL residents. Unfortunately the general public has little knowledge of how insurance works, and they’ve jumped on the Crist lynchmob.
Congrats to the OIR, finally they’ve won one. For those agents out there that are crying for Allstate, let’s remind ourselves that they have been over-charging Florida residents for years. Even with multiple policy discounts, they’ve been 20%+ higher than other carriers (State Farm the exception).
As a homeowners, we understand having to pay higher premiums for higher risk. But to gouge the consumer every chance you get is wrong. If they were playing fair, they wouldn’t use models not approved by the OIR and just play ball like the other carriers that are successfully writing in Florida and making a profit doing so.
Last time I checked, I didn’t see an Allstate agent going hungry.
Wake up and smell the risk Mark. Nobody’s “gouging” Floridians. They pose a signifcantly higher risk than most places in the country hence they should pay a significantly higher premium. That’s the cost of living there. It’s their choice.
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Yeah right. Allstate gained as many policies as it did by gouging the customers. Sorry, doesn’t fly.
Allstate should make a business decision, pull out of Florida entirely. They don’t need the state and the rest of the country doesn’t need to support it. Let the gov have his way and when the next hurricane hits, Allstate can laugh all the way to the bank. I feel sorry for their agents but at this point if you can’t sell new business, you are dead in the water!
I have to agree with you Sandman. Some of the documents being demanded by FL OIR have nothing to do with HO policies, nor how property claims are handled. Why does OIR need information on how injury claims are evaluated under an auto policy to determine if Allstate is in compliance on HO policies. I realize there is a lot of money to be made on auto policies in FL, but is it really worth it when you have governmental regulation (socialism?) of insurance? Just my thoughts…
I agree Sandman. How embarrassing for Allstate to be out-maneuvered by those hacks at the OIR and the governor. Those idiots are nothing but predictable. Allstate played this poorly.
They should have did like Farmers in Texas. Send out 800,000+ non-renewal letters in one day. The state knew they meant business and since the notices had been sent there was not anything the state could do but settle or risk a major company leaving the state. To this day they have never refunded a single dollar to the policy holder as ordered by the state. Allstate has been trying to get along and that is their mistake.
Nice call Sandman, everyone agrees. For a state that needs Allstate more than Allstate needs it, Florida need a lesson in humility.
Right now the OIR and FL legislature is so adversarial towards all property carriers. They think they can stomp there foot and all the carriers will jump to their demands. And their solution? If not, just stick it in Citizens. It is a boneheaded mentality that is going to burn all FL residents. Unfortunately the general public has little knowledge of how insurance works, and they’ve jumped on the Crist lynchmob.
I’m sure Allstate is just being a good neighbor by trying to stay in Florida! RIGHT!!
If they didn’t make a profit here, they wouldn’t be here. They want the good but not the bad, sorry it doesn’t work like that.
Congrats to the OIR, finally they’ve won one. For those agents out there that are crying for Allstate, let’s remind ourselves that they have been over-charging Florida residents for years. Even with multiple policy discounts, they’ve been 20%+ higher than other carriers (State Farm the exception).
As a homeowners, we understand having to pay higher premiums for higher risk. But to gouge the consumer every chance you get is wrong. If they were playing fair, they wouldn’t use models not approved by the OIR and just play ball like the other carriers that are successfully writing in Florida and making a profit doing so.
Last time I checked, I didn’t see an Allstate agent going hungry.
Wake up and smell the risk Mark. Nobody’s “gouging” Floridians. They pose a signifcantly higher risk than most places in the country hence they should pay a significantly higher premium. That’s the cost of living there. It’s their choice.