Allstate Will Insure California Homes Again, Under One Condition

Allstate Corp.will end its years-long pause on underwriting in California as soon as the state regulator adopts proposed regulatory changes to make it easier for insurers to raise rates, according to a company spokesperson.

“If the regulations were in effect today, we would begin selling new homeowner insurance policies tomorrow,” said Gerald Zimmerman, senior vice president of government relations for Allstate, in a public hearing on April 23. “Let me repeat that: As soon as we can use catastrophe modeling and incorporate the net cost of reinsurance into our rates, we will be open to business in nearly every ...