If Allstate Corp.’s customers “quit getting sued every time they have an accident” the company could ease back on some rate increases, according to Chairman, Chief Executive Officer and President Tom Wilson.
Tag: Allstate Insurance
Allstate to Increase Size of Automatic Rate Hikes in 2022
Allstate announced another increase in auto insurance rates due to continued increases in physical damage and injury severity. According to a statement issued on April 21 by the personal property insurer, unfavorable re-estimates of prior-year non-catastrophic reserves in the first quarter were approximately $160 million, reflecting the impact of “rapidly increasing costs of losses since… Continue reading Allstate to Increase Size of Automatic Rate Hikes in 2022
Allstate Acquires SafeAuto
Allstate through its subsidiary National General has acquired SafeAuto, a provider of affordable state minimum coverage. SafeAuto will add capabilities and distribution with its 24 hour, 7 days a week customer contact centers at 1-800-SafeAuto and its website. The combination will leverage National General’s direct-to-consumer non-standard auto insurance operations and leverage National General’s track record… Continue reading Allstate Acquires SafeAuto
Allstate Corp Profit Rises
Allstate Corp. said its profit rose for its second quarter as insurance premiums grew by 6% from a year earlier. The Northbrook, Ill.-based insurance company reported a profit of $851 million, or $2.44 a share, compared with $717 million, or $1.91 a share, a year ago. The company reported adjusted earnings of $2.18 a share.… Continue reading Allstate Corp Profit Rises