ALLSTATE INSURANCE COMPANY TO LIMIT FLORIDA PROPERTY INSURANCE
NORTHBROOK, Ill., Jan. 14 /PRNewswire/ -- Allstate Insurance Company announced today that, due to changes in the marketplace, it will limit the amount of new property insurance it will sell in Florida effective immediately. The company said it will only write new property insurance policies for existing Allstate automobile customers who were insured by the company as of Dec. 31, 1992. Additionally, as indicated in earlier statements, the company will meet its commitment to continue to insure current customers affected by Hurricane Andrew. The company took this action in response to changes made by other major carriers in Florida and the increasing requests the company is receiving for insurance since Hurricane Andrew. "Since Hurricane Andrew, we have been writing a disproportionate amount of new homeowner policies," said Edward W. Young, Allstate Group vice president, product administration. "Our primary responsibility is to ensure continuing financial stability, while providing superior service to our existing customers. "We will maintain a significant presence in Florida and will continue to work with Insurance Commissioner Tom Gallagher to identify long-term solutions to the insurance needs of Florida consumers. -0- 1/14/93 /CONTACT: Leslie Chapman, 305-358-5047, or Al Orendorff, 708-402-5600, both for Allstate.
CO: Allstate Insurance Company ST: Illinois, Florida IN: INS SU:
LR -- NY023 -- 4785 01/14/93 10:24 EST
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|Date:||Jan 14, 1993|
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