Last month, Poizner said Allstate must lower rates on California homeowner policies by 28 percent. Allstate agreed not to contest Poizner's rate cut order, and in return Poizner agreed to not take any action over allegations that the insurer had previously charged excessively high rates.
Insurance Commissioner Strikes Deal with Allstate in CA
Steve Poizner, California's insurance commissioner, announced he has scrapped an attempt to gain refunds for Allstate Corp policyholders who might have paid excessive amounts for their homeowners' coverage in recent years.
Published on August 5, 2008
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