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Allstate Stops New Calif. Biz

California Insurance Commissioner Steve Poizner today termed Allstate's decision to no longer write new property policies in the state "shortsighted" and ordered the carrier to prove it is not chargin

By Steven Tuckey | Updated on May 11, 2007

California Insurance Commissioner Steve Poizner today termed Allstate’s decision to no longer write new property policies in the state “shortsighted” and ordered the carrier to prove it is not charging excessive rates.

“I expect there will be no shortage of insurance companies who will be more than happy to compete to serve more than 1 million Allstate customers,” he said in a statement.

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