The Allstate college football event is back for another year as two finalists compete in New Orleans. For another year, Allstate is holding the 60 Seconds of Mayhem Sweepstakes, which will continue to make insurance news from now through November 30, 2012. The insurer has announced the return which gives fans the compete in a field goal kick contest. Two lucky fans are given the opportunity to make headlines by competing against one another this football season in order to win a new motorcycle, truck, travel trailer, and VIP trip…
Read MoreTag: Allstate insurance news
Latest Allstate insurance news shows its initial adjustments to its Esurance acquisition
The Northbrook, Illinois-based insurer has completed its first full quarter of ownership. Allstate has just completed its first quarter since it purchased Esurance, at a price tag worth $1 billion and topped insurance news, to help it to establish itself more firmly in the online marketplace, which is currently dominated by Progressive and Geico. As of yet, many analysts remain skeptical about the potential offered by the acquisition. Equally, Allstate knows that it must create a place for itself online, regardless, as it is a preferred place for purchasing policies…
Read MoreAllstate CEO names new head of the insurer’s home and auto unit
Thomas Wilson, the chief executive officer of Allstate Corp. has chosen a new head… for the largest unit of the insurance company, home and auto coverage, in an effort to increase residential business profits. According to a statement released by the insurer, the unit’s new president is named Matt Winter. He had previously been the life insurance business head, a role that is now being filled by the chief financial officer, Don Civgin. Equally, he will be replaced as CFO by Steve Shebik. The company also explained that for personal…
Read MoreAllstate to launch new homeowner’s insurance products throughout the U.S.
In October of last year, Allstate launched a new line of homeowner’s insurance products in Oklahoma called House & Home. The company’s initiative was met with success and now the insurer is gearing up to launch these products in various states through 2014. The products became popular amongst consumers because it provided them with a sleuth of discounts and new deductible and coverage options. The insurer has also introduced a more simplified quoting process that uses external information to fill out applications more quickly. As Allstate introduces these new insurance…
Read MoreAllstate to raise rates on homeowners insurance in Chicago after spate of recent disasters
Allstate is looking to raise rates on homeowners insurance in Chicago. The company has plans to raise rates by an average of 10% throughout the state, citing a rise in water, wind and hail damage claims over the past year. State regulators will not need to review the rate proposal, as the average rate increase does not exceed the 10% mark. The insurer plans to enact the new rates on March 26 this year. 2011 has become notorious for its natural disasters. These natural disasters took a toll in Chicago…
Read MoreRegardless 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 MoreAllstate updates its estimated Q2 losses, up to $2.3 billion
Allstate has announced their latest estimates of their Q2 losses. The prestigious insurer has had a rough year given the frequency and severity of storms and other natural disasters throughout the U.S. Indeed, the entirety of the nation’s insurance industry has been shaken and many now believe that it stands on unstable ground. Risk analysts and insurance officials have speculated that the industry may not be able to withstand another natural disaster without significant financial aid from the federal government. Allstate’s previous estimations of their losses for the months of…
Read More