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At a news conference in Punta Gorda last week, the not-for-profit Allstate Foundation made a $1-million donation to the Hurricane Charley recovery effort. Residents of the hard-hit community were no doubt appreciative.
Will the foundation's benefactor, insurer Allstate Corp., be as generous with its Florida policyholders? That remains to be seen.
Asked if the Northbrook, Ill., company would raise homeowner premiums because of Charley, for example, spokeswoman Kathy Thomas said in an e-mail Friday that insurance prices are based on many factors, not a single event. Still, she said, the risk of hurricanes is one such factor. Thomas offered a similar reply when asked if Allstate might choose not to renew expiring homeowner policies in areas damaged by Charley.
Thomas also said Allstate doesn't know yet whether it will ever resume underwriting homeowner policies throughout the state. Currently, the insurer bars certain high-risk areas.
"Clearly, Allstate is actively seeking to grow its business both nationally and in the state of Florida . . . while still managing risk," Thomas wrote. "Homeowner availability and affordability in the state continues to be a challenge for all insurers."