Allstate Punished for Refusing to Produce Documents

Florida insurance regulators have ordered Allstate to stop selling new auto insurance policies in that state because the insurer has refused to turn over documents detailing how the company sets rates and pays claims. The documents in question allegedly show a plan, developed by consulting company McKinsey & Co., for insurers to increase profitability by decreasing and delaying claims payments. Allstate is also paying a $25,000-a-day fine in Missouri for violating a court order to turn over the same documents. Beatrice E. Garcia, Miami Herald 01/17/2008
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