Allstate’s increase in home insurance rates was abruptly canceled by state Insurance Commissioner Mike Geeslin on Tuesday, just one day after the company announced it was raising them to cover potential increases in property losses.

Besides rejecting the insurer’s proposed 5.9 percent statewide rate hike, the commissioner also slapped the company with a related order that blocks Allstate from raising premiums without prior approval from the Texas Department of Insurance. Only one other company – State Farm – is under such state supervision of its rates.

Mr. Geeslin said he had no choice but to act quickly since Allstate announced Monday that it would immediately increase the cost of its homeowner policies as they came up for renewal.

The reality is that Texans, compared to the rest of the nation, pay exorbitant rates while receiving less coverage. Of course, Allstate will threaten to leave... and the state should call their bluff and raise them self-insurance. Sorry, but if private companies can't get the job done better than the government, then why the hell do they even exist.

Try again, Allstate

“What bothered me the most is that Ari Fleischer didn’t even know the guy’s name.” said Rieckhoff. “He’s willing to run a multi-million dollar campaign, utilizing the personal story of a soldier, and he couldn’t tell you on national TV what that soldier’s name is.”

Nice, Ari.