Allstate Insurance Caught in Groundless Rate Increase

Florida regulators allowed Allstate Insurance Co. a substantial rate increase even though they had applied for a much larger increase earlier this year. The Allstate rate increase was the latest in a list of increases by major insurance companies such as State Farm and Nationwide. Interestingly, there have been a slew of increase application that are not accompanied by any documentation or evidence of validity. Rather than face the scrutiny of proving the need for the increase Allstate simply reduced their requested amount thereby pulling the wool over the regulators eyes while overcharging Floridians.