Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: FRIDAY, January 14, 1994 TAG: 9401140219 SECTION: BUSINESS PAGE: A-7 EDITION: METRO SOURCE: DATELINE: WEST PALM BEACH, FLA. LENGTH: Short
The state's second-largest insurance carrier said Wednesday it will begin sending letters next week to tell 30,000 customers that when their policies run out, they won't get any more coverage from Allstate. About 8,000 - nearly a third - of those canceled policies will be in Palm Beach County.
In addition, Allstate will no longer sell new property insurance policies in 10 counties, including Palm Beach County. And it won't be writing mobile-home policies.
The move, though not unexpected, is the latest shake-up in the insurance industry, which more than a year after Hurricane Andrew is still reeling from those losses.
Other firms are expected to follow, though the state's largest insurer, State Farm, said it won't drop any customers because of Andrew.
"And we're very proud to say that," State Farm spokeswoman Sharon Conlon said.
The 30,000 cancellations will begin taking effect April 25.
- Cox News Service
by CNB