Usage based insurance launched by Allstate in NY

New York auto insurance

Safe drivers in New York will be able to take advantage of potential savings on their premiums. Progressive may have taken the first steps into New York with usage based insurance, but Allstate isn’t far behind, and is now offering drivers in the state the opportunity to save money on their monthly premiums based on their safe driving habits. Motorists that demonstrate a lower risk of making a claim may save money every month. The Allstate usage based insurance program is known as “Drive Wise”. Though it is only just…

Read More

Allstate sues 10 New York area defendants for $5 million in insurance fraud

Allstate Insurance Company has filed a lawsuit against 10 defendants in the New York area in order to help to recover $5 million in fraudulent insurance claims. This is the company’s fourth lawsuit of this nature this year. The complaint includes specific mention of five medical professional corporations, a physician, one corporation, and three individuals who are not physicians. Thirty one fraud lawsuits worth over $170 million in damages have been filed by Allstate in the state of New York since 2003. New York state is a hotbed of insurance…

Read More

Regardless of tornado losses, Allstate posts better results than predicted

The largest publicly traded American home and auto insurance company, Allstate Corp., has posted its losses for the second quarter, following catastrophe expenses that broke insurance industry records; but its results weren’t as bad as had been predicted. Allstate’s catastrophe losses reached $2.34 billion, making that quarter one of the worst in the entire history of the company. It had already been anticipating significant losses as a result of April and May’s tornado and severe weather activity in the United States. That said, analysts had not anticipated the revenue to…

Read More