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Allstate Ordered to Refund $56 Million

Craig Cherry
Craig Cherry
Contributor
Posted by Craig CherryMarch 15, 2007 12:00 PM
Tags: Business Litigation
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A Travis County, Texas District Judge ordered Allstate Insurance to refund approximately $56,000,000.00 in overcharges to policyholders. The order is, in part, the result of ongoing litigation that began in December 2004 after the Texas Department of Insurance disapproved Allstate's proposed rate increase of five percent. The order requires Allstate to also pay interest to policyholders at an annual rate of 11.25 percent.

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