Thursday, March 3, 2011
MARYLAND: Allstate Averts Catastrophe
In the case of People’s Insurance Counsel Division v. Allstate Insurance Company, the Court of Special Appeals of Maryland held that Allstate Insurance Company’s 2006 decision to stop writing new property insurance policies in “certain catastrophe-prone areas of Maryland effective January 1, 2007" was legal because the decision was supported by substantial evidence and was not arbitrary or unreasonable.
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I wonder what the repercussions are for major medical insurance plans, based on this decision.
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