ALLSTATE COMPLETES WITHDRAWAL PLAN
ALLSTATE COMPLETES WITHDRAWAL PLAN NORTHBROOK, Ill., Jan. 17 /PRNewswire/ -- Allstate Insurance Company
announced today that it has submitted all additional information requested by the New Jersey Commissioner of Insurance regarding the filing of its Plans of Orderly Withdrawal from the property and casualty insurance market in New Jersey. The commissioner now has 120 days to approve the plan.
Last September, the company notified the Department of Insurance that it intended to withdraw from the state and filed a comprehensive plan, in accordance with the department's regulation, outlining how it would do so in an orderly manner. The commissioner requested additional information on the plan in October. In responding to the commissioner's request for additional information today, the company has completed the information gathering phase of the withdrawal process. Allstate hopes that the department will act quickly in reviewing and approving the plan so that it may begin the process of orderly withdrawal from the state. -0- 1/17/92 /CONTACT: Sheila Breeding, 908-685-7802, for Allstate/ CO: Allstate Insurance Company ST: New Jersey IN: INS SU: SH -- NY050 -- 1053 01/17/92 14:25 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 17, 1992|
|Previous Article:||NOVEMBER MARKS NEW RECORD FOR TEXTILE AND APPAREL IMPORTS|
|Next Article:||FIRST FEDERAL SAVINGS BANK OF NEW SMYRNA ANNOUNCES AGREEMENT WITH FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF CITRUS COUNTY|