SACRAMENTO, Calif. – The Los Angeles Times on Aug. 5 reported that California Insurance Commissioner Steve Poizner has quietly dropped an effort to seek refunds for Allstate Corp. policyholders who might have paid too much for their homeowners' coverage in recent years. In an unannounced legal settlement reached July 31, Allstate agreed not to contest Poizner’s July 10 rate cut order that requires Allstate to slash its homeowners’ rates by 28.5 percent for policies that begin or renew after July 30 in exchange for the commissioner’s agreement to “not take any action” based on allegations that Allstate previously charged excessively high rates. Consumer advocates have criticized the agreement as a back room deal that effectively pardons Allstate for past misdeeds. The settlement was not released by Commissioner Poizner’s office. Full version available here.