May 15, 2008 -- The Miami Herald reports today that Allstate has lost its battle in court: The company's nine insurance companies operating in Florida now are barred from writing new policies until Allstate fully complies with a state subpoena for documents and information about its rate-setting process and rate filings.

The Herald adds that existing Allstate policyholders are not affected by the ban. Also, the Office of Insurance Regulation will allow consumers who already have quotes from Allstate to buy the policies if they wish.

Best's Insurance News reported yesterday that Florida Insurance Commissioner Kevin McCarty revealed that Allstate Corp. has been in contact with his office since a court affirmed the suspension of the insurer's license to write new business and a deal has been struck that would potentially lift the ban once again.

The Bond Buyer reported yesterday that the Florida Hurricane Catastrophe Fund has selected a 23-member financial services team that today begins fast-tracking a finance plan to provide the state-run, nonprofit reinsurer with up to $3 billion, or possibly more, of liquidity for the hurricane season that begins June 1.

Reuters News Service reported yesterday that billionaire Maurice "Hank" Greenberg, the former chief executive of insurer American International Group Inc , sees worldwide business opportunities for the private group of companies he now runs. In an interview, he said he is close to reaching two deals in Russia, as well as real estate ventures in Eastern Europe.