Allstate shifting insurance clients
Published: Friday, January 5, 2007 at 6:01 a.m.
Last Modified: Friday, January 5, 2007 at 12:00 a.m.
ST. PETERSBURG — Allstate Floridian Insurance Co. announced Thursday that more than 100,000 additional property insurance customers will be shifted into another company as part of its effort to pare back its exposure in Florida.
Allstate announced in 2005 that it would need to shed hundreds of thousands of policies, but that it was working to find other companies to take over the coverage and that it's agents would continue to service them, making the change as easy as possible for the customer.
Since then it has dropped more than 200,000 policies, shifting the customers to other insurers.
On Thursday, the company said it will drop another 106,000 policies, but that the customers will be picked up by Royal Palm Insurance Company of Ormond Beach.
Allstate spokeswoman Deb Clouser said the company's customers should get a notice about 90 days before their policy is up for renewal that the company itself won't renew it, but that they'll receive an offer from Royal Palm to pick up the coverage — although the rates won't necessarily be the same.
The change will start with customers whose policies would renew in April.
While large insurers have dropped hundreds of thousands of property policies in Florida since the heavy hurricane seasons of 2004 and 2005, Allstate officials have touted their solution easier on customers.
"Allstate agents have been able to write new property insurance with other companies besides Allstate Floridian, giving consumers more choices," the company said in a statement released Thursday.
After the customers are shifted to Royal Palm, Allstate will have about 300,000 homeowner insurance policies in Florida left.
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