Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine big market players. Profitability challenges in the …
Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President and CEO Tom Wilson said the …
Insurer Allstate Corp. posted a bigger-than-expected quarterly loss on Tuesday as claims related to higher catastrophic events offset gains from strong investment income. The insurer’s adjusted second-quarter loss widened to $4.42 per share from 75 cents a year earlier. Analysts …
LOS ANGELES (AP) — Two insurance industry giants have pulled back from California’s home insurance marketplace, saying that increasing wildfire risk and soaring construction costs have prompted them to stop writing new policies in the nation’s most populous state. State …
A Colorado law that allows claimants to collect double coverage if a claim is unreasonably denied or delayed does not allow plaintiffs to hold claims adjusters personally liable, the state Supreme Court decided Monday. In a unanimous decision, the high …
The Indiana Supreme Court ruled Thursday that Allstate must pay $25,000 in uninsured motorist benefits to the estranged husband of a woman who died while riding as a passenger in a car crash after moving back in with her parents. …
Allstate says severe weather events in Texas and the Midwest account for the majority of its $350 million in catastrophe losses in May 2020. Northbrook, Illinois-based Allstate Corp. has estimated catastrophe losses for the month of May of $350 million, …
Insurer Allstate Corp. will likely grant an additional rebate to auto insurance customers due to reduced driving during the coronavirus outbreak, Chief Executive Officer Tom Wilson said in an interview on Tuesday. A second round of rebates would be tailored …
Auto insurers Allstate Corp. and American Family Insurance are returning some money to customers as widespread shutdowns across the U.S. from the coronavirus cut down on driving. Allstate expects to give back more than $600 million, with personal auto customers …
Allstate Corp. struck a deal with Ford Motor Co. that will allow some of the automaker’s customers to share data with the insurer for its program that tracks mileage. The majority of Ford and Lincoln 2020 model-year vehicles with embedded …