Allstate proposes higher rates for Pennsylvania homes

Allstate of Pennsylvania has issued a new rate proposal for its property and casualty insurance lines. The company is seeking to raise its rates due to the unprecedented frequency of national disasters befalling the state. These disasters have placed the insurer under enormous financial pressure as it attempts to mitigate the damage caused by this year’s multitude of storms. The insurer is asking state regulators for approval to raise its rates by an average of 20% for the 195,000 policies in effect in Pennsylvania. This year’s storms have caused damage…

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