Tag: Tom Wilson

Allstate auto insurance rates are jumping sharply in these 3 states

Live Insurance News
auto insurance - three state flags

New York, New Jersey, and California regulators have all given the green light to double-digit hikes. Allstate recently announced that it had received the go-ahead for double-digit auto insurance rate increases in New York, New Jersey and California. The approvals follow President and CEO Tom Wilson’s comments regarding dropping customers. Wilson had previously stated that if the auto insurance rate increases were not approved, the company would be dropping customers in those states. The approvals did come through, and they were for very large increases in all three states. New…

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Allstate insurance company pledges net zero carbon by 2030

Logan B.
Insurance company - Net Zero Emissions by 2030

The insurer also committed to an investment portfolio that is greenhouse gas emission-free. The Allstate Corporation, one of the largest insurance companies in the United States, has announced its new commitment to achieve a string of zero emission targets. The insurer plans zero greenhouse gas emissions from direct, indirect and value-chain sources by 2030. As a closer target, the insurance company has also committed to set a target year for having a net zero portfolio by 2025. The goal is to contribute to the overall effort being made to manage…

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Allstate CEO says State Farm auto insurance rates will soon increase

Nordstrom
Auto insurance - Rates increasing

Tom Wilson has predicted that his company’s largest competitor will also be raising rates. President and CEO at Allstate Tom Wilson has predicted that State Farm will also be pushing to make auto insurance rate hikes in 2023, when he spoke at the Goldman Sachs 2022 US Financial Services Conference. Allstate has already started requesting rate increases and expects State Farm to do the same. Wilson pointed to the increased prices as a response to inflationary pressures and rising loss costs, and that the move will provide the home and…

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Allstate faces “thousands” of insurance job layoffs for its staff

Marc
Insurance job layoffs - layoffs from COVID-19 - newspaper article

The insurer intends to let thousands of people go in an effort to reduce its costs, say reports. Allstate Corporation plans to use thousands of insurance job layoffs to try to cut costs, say several reports. The news came directly from the insurer’s CEO who discussed it in a recent video conference call. Allstate CEO Tom Wilson held a video conference call with his senior team leaders. In that call, he talked about the fact that thousands of insurance job layoffs were on their way. These “thousands of jobs” would…

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Auto insurance may experience a paradigm shift because of driverless cars

Logan B.
Google driverless auto insurance news discount

Driverless cars could have a major impact on auto insurance coverage and how companies protect drivers and their vehicles Driverless cars may soon be quite common on the roads, and this could have a major impact on auto insurance coverage. According to Allstate CEO Tom Wilson, there will be an ongoing debate over insurance coverage for driverless vehicles for years to come. Currently, there are precious few driverless vehicles on the roads, with Google being one of the only companies in the world to apply such a vehicle in a…

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