Allstate loses bid to delay rate cut
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From Times Staff and Wire Reports
Allstate Corp.’s attempt to stave off a 16% rate cut for its California auto policyholders was rejected by a court, which ruled against the company’s request to delay implementation of the price reductions.
Allstate, the second-largest auto insurer in the U.S., said it was still appealing the decision by the state’s insurance regulator to impose the cut.
