Rotten eggs in the bunny-basket of news – Allstate, River Birch, Chinese Drywall plus a sniff of Congress…

Better check the eggs carefully this year! If the news thus far this weekend is any indication, a sniff test is needed.

Allstate tossed a rotten egg at Commissioner Chaney.

Allstate is again asking for an increase in homeowners’ insurance rates. “They’re not going to get a 44 percent increase unless the court gives it to them,” State Insurance Commissioner Mike Chaney said of the insurers’ latest submission.

Without discounts, Chaney said the latest increase could amount to a 48 percent increase for some customers with Allstate Property and Casualty Insurance Co. In January, Allstate withdrew an increase after Chaney’s rejection. Submitted as a 59 percent increase, Chaney said it would have amounted to a 65 percent increase for some customers.

“I’m never pleased with huge rate increases, and I review them extremely carefully,” Chaney said…If the commissioner doesn’t respond to the rate hike, it would go in effect in 30 days. Chaney, however, said he won’t let that happen. He plans to ask the insurer for more information.

If Chaney follows his usual practice, he won’t surprise the Clarion Ledger reader that commented:

Watch this one. They have filed for a 44% increase ,which will be refused and then they will file for an increase of over 15% and it will be approved. Just watch it and you will see what will happen.

The bunny at the Times Picayune hid a special egg for Congress in the Opinion section and tried to put a new color on River Birch egg – but there’s not enough dye to cover the truth hidden between the lines in the graphic: Continue reading “Rotten eggs in the bunny-basket of news – Allstate, River Birch, Chinese Drywall plus a sniff of Congress…”