Allstate Responds To Georgia Insurance Departments Rate Filing Investigation Allstate Spokesperson Daniel Groce Said The Rate Rethinking Are Justified
The firm will cooperate with the state's investigation, in a statement to Insurance Journal, allstate spokesperson Daniel Groce said the rate reviewing are justified. The insurers filing for an overall statewide automobile rate increase of 25 percent will be implemented on May 22, 2016. Georgia Insurance Commissioner Ralph Hudgens announced in a consumer alert April 11 that he had directed department staff to initiate a professional level examination of Allstate's auto rate filing to determine in the event the rate increase is defendable under state lex. In reality, hudgens said in the alert to policyholders that the 25 percent figure is entirely an average rate review for the all the state.
As a output, allstate said that rate adjustments are made quite carefully to charge perfectly for the risk we assume and ensure the opportunity to protect customers from life's uncertainties, groce said. Reality that groce added that this particular rate filing applies to one of Allstate's 3 underwriting firms in Georgia and represents less than half of its insurance buziness in the state. Surely, entrepreneurs Allstate Group is the 2-nd largest automobile policy provider in Georgia. Georgia automobile policies. Groce said that as is sector standard, correction in market conditions require the entrepreneur to set rates that are adequate for the coverage provided. Hudgens said April 11 in the event the results of GADOI's examination show that the filing should't adequately support the increase, he intends to make every measure leted to him by act to protect policyholders.
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