Insurance company told to stop new policies in Fla

Insurance Commissioner Kevin McCarty said Wednesday that Boca Raton-based People's Trust has failed to follow state standards and will not be allowed to write new business until it complies.

People's Trust, however, must continue to service existing customers.

McCarty said the company - which received a license to do business in Florida just a year ago - also wrote more policies than permitted, creating an exposure beyond its means to pay claims.

People's Trust had written more than 20,500 policies by the end of 2008, said Ed Domansky, spokesman for the Office of Insurance Regulation.

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