Category: Allstate Insurance

11 Catastrophes, $1B in Losses, and One Financial Cushion for Allstate

Live Insurance News
Allstate's $2 Billion Deal: What Investors and Policyholders Need to Know About the Big Sell-Off

Allstate Projects $123M Reinsurance Recovery Amid Heavy March Catastrophe Losses For Allstate, March came in swinging, delivering a staggering $1.04 billion in catastrophe-related losses. This wave of destruction, driven largely by four major wind and hail events among 11 reported incidents, isn’t just another line item in their books. These disasters hit hard, but Allstate isn’t entirely shouldering the financial blow. Thanks to their aggregate reinsurance program, the company is set to recover approximately $123 million, a much-needed safety net in a turbulent season. Here’s the deal. Allstate’s aggregate reinsurance…

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Are California Insurance Giants Playing Fair? Homeowners Say No, and They’re Suing

Live Insurance News
Insurance news 1

California Lawsuit – Short Insurance News Update California homeowners are turning to the courts in a fight over what they say is more than just insurance policies gone awry. Two separate lawsuits accuse major insurers like State Farm, Farmers, and others of colluding to push policyholders onto California’s FAIR Plan, a last-resort insurance pool that delivers bare-bones coverage at premium prices. Here’s the crux of the argument. The lawsuits, filed in Los Angeles County, allege that insurers deliberately scaled back coverage and dropped customers in wildfire-prone areas. The FAIR Plan,…

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Did Allstate Just Find a Loophole in Texas Data Privacy Laws

Tate Ellison
Allstate data collection

Texas Court Ruling Shields Allstate in Landmark Data Privacy Case A Texas court has delivered a striking decision in the ongoing data privacy battle between Attorney General Ken Paxton and insurance giant Allstate Corp. On April 10, Judge Vince Santini of the 457th District Court ruled that Allstate and its subsidiary, Arity 875 LLC, cannot be sued in Texas for allegedly harvesting consumers’ driving data without consent. The reason? Neither company is headquartered nor incorporated in Texas. For Attorney General Paxton, this is no ordinary case. It’s a whopping blow…

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Why Insurance Stocks Like Allstate Are Holding Ground in a Changing Climate

Tate Ellison
Allstate Insurance Stocks

Why Look at Insurance Stocks? Insurance companies are finding ways to stay grounded despite the wild world around them. Stocks like those from Allstate (NYSE: ALL) are proving interesting for investors, even with climate risks becoming a bigger threat each year. Here’s an example: Allstate is sitting on a market value of about $47.85 billion – info per investing.com. They’ve got a price-to-earnings ratio of 10.78, meaning the stock’s price isn’t overly inflated compared to its earnings. And their 2.18% dividend yield isn’t bad if you’re looking for income along…

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Where to Find a List of Publicly Held Insurance Companies

Live Insurance News
Publicly Held Insurance Companies

The U.S. stock market is home to a wide array of insurance companies, ranging from life and health insurers to property and casualty providers. These companies play a vital role in the economy, offering financial protection and risk management services to individuals and businesses alike. Many of these publicly held insurance companies also stand out for their ability to generate consistent cash flow, which allows them to pay dividends to their shareholders. Dividends are periodic payments made to investors, often seen as a sign of financial stability and profitability. For…

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California’s FAIR Plan Offers a Lifeline, But Is It Sustainable?

Nordstrom
California Wildfires Costs

California Expands FAIR Plan Insurance Limits Amid Wildfire Risks and Insurer Withdrawals The California Fair Access to Insurance Requirements (FAIR) Plan serves as the state’s insurer of last resort, stepping in to provide essential property coverage when traditional insurers leave high-risk zones. Established in 1968, the FAIR Plan is a private consortium of insurance companies operating under state oversight. It was never designed to replace private insurance but to act as a safety net for those unable to secure coverage due to location or elevated risk factors. Recent years, however,…

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