Good news for Allstate customers?
No, they haven’t decided to start paying claims quickly and for a fair amount. That would be like a Lewis Carroll fairytale. Rather, the Dept. of Insurance has ordered Allstate to cut rates by 15%. Allstate had requested permission for a 7% rate cut. The Department of Insurance wanted a 19% rate cut, according to its calculations. An administrative law judge ordered the 15% rate cut. Allstate contends it is being unfairly singled out because it is in a fight with the DOI about its homeowners
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