Tag: Allstate

Allstate loses long-held second place in home state Illinois auto insurance market

H. Cutner
Illinois auto insurance - image of Chicago, Illinois

The insurer has long held the number two position in the state, but Progressive’s growth was faster. Progressive has, for the first time, taken Allstate’s position in its Illinois auto insurance home state market. Based on a key measure, Allstate has lost the position it has been holding for decades. Based in Cleveland, Ohio Progressive now provides Illinois auto insurance for a larger number of vehicles than Allstate, which is based in Northbrook. This tally uses the figures filed with the state Department of Insurance. Possibly more importantly, Progressive’s rapid…

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Allstate issues caution against contractor and insurance fraud following severe weather

Marc
Insurance fraud - home repair - hammer and nail

The insurer has shared tips to its policyholders to help protect themselves against scams. The severe weather that struck the southern and middle states has provided a considerable opportunity for scammers interested in ripping people off through contractor and insurance fraud. Allstate is hoping that more people will learn its tips to keep themselves safe from scammers. The insurance company has issued these tips to equip Americans with the information they need to spot scams and stay away from them. Insurance fraud is already estimated to have reached about $40…

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Allstate homeowners insurance rates increase following 191 hike approvals

Logan B.
Allstate homeowners insurance rates - Home Money - Rates

The insurer has the green light to raise its premiums for property owners across 43 states. Following the receipt of 191 approvals from state regulators in 2020, Allstate homeowners insurance rates can rise in as many as 43 states. This would produce a premiums increase of an estimated $222.3 million, according to an S&P Global Market Intelligence analysis. Conversely, State Farm’s filings suggest that they will be reducing their premiums in 17 states. At the same time that Allstate homeowners insurance rates filings were seeking to increase premiums, State Farm…

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Blackstone Group to purchase Allstate life insurance business for $2.8B

G. Turner
Allstate Life insurance - money - financial - US Dollars

The sale will make it possible for Allstate to focus on its personal property-liability units. Blackstone Group Inc. has announced its agreement to purchase an Allstate life insurance business for $2.8 billion. This move was made as the private equity firm has been broadening its strategy within the insurance industry. The purchase is being made by entities managed by Blackstone Group, according to the announcement. Though the Allstate life insurance business will be sold to the private equity firm, the insurer will be holding onto a New York life business.…

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Allstate car insurance rates shift into reverse

Marc
Allstate car insurance rates - hand on gear knob

The Good Hands insurer swam against the premium-reduction current last year but is changing directions. Last year, Allstate car insurance rates didn’t experience the same reductions as many other national auto insurers were offering in 2020. Many insurers made their coverage cheaper to reflect the reduced driving trends resulting from the pandemic. The national auto insurer recently announced that it was changing directions with its premiums. Allstate car insurance rates are being cut in a number of large states across the country. In this way, the insurer is joining Progressive,…

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First Allstate Chief Sustainability Officer appointed

Marc
Allstate Logo on Sign - Allstate Chief Sustainability Officer

The insurer announced that Susan L. Lees would be the first person to take that position. The first ever Allstate Chief Sustainability Officer was recently announced, as Susan L. Lees took the position. Lee’s previous role as Chief Legal Officer and Secretary of the corporation will be taken over by Rhonda Ferguson, Executive Vice President and General Counsel. Lees is taking the position immediately, as is Ferguson who replaced her in her former role. “This realignment of responsibilities is consistent with Susie’s decision announced in August to focus on environmental,…

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Allstate Foundation grant sends $1.2 million in school supplies to US teachers

Logan B.
Allstate Foundation grant - Teacher and classroom

Educators across the country are having their wish lists filled whether in-class or teaching online. A recent Allstate Foundation grant sent $1.2 million in essential school supplies to teachers across the country. The goal is to help the educators to empower and excite their students, regardless of whether they are in a classroom or learning online. Nearly 95 percent of teachers spend money from their own pockets on classroom and teaching supplies. Of the teachers spending their own money on these supplies, the average amount spent is $500 per year.…

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