Allstate News

Private Auto Premiums See Largest Q3 Growth in 10 Years: SNL

Private auto insurance industry direct premiums written rose 5.13 percent in the third quarter of 2014, the largest third-quarter year-over-year growth in the past 10 years, according to an analysis by SNL Financial. The 30 largest auto writers by market …

Price Optimization Allegations Challenged, NAIC Investigating Practice

Reaction to industry-wide price optimization allegations from a consumer group known to call out insurers has been somewhat critical yet guarded – however it appears regulators may already be starting to look into the practice. Consumer Federation of America this week …

Homeowner Insurance Rate Hikes not Challenged by Texas Commissioner

The Texas insurance commissioner has allowed the three largest home insurers to impose significant rate hikes on many policyholders despite the objections of a state consumer advocate. Insurance Commissioner Julia Rathgeber can reject any new rates that are deemed excessive …

Recruiting Allstate in Colorado Will Pay for Refers

Under its effort to continue expanding across Colorado, Allstate says it will appoint 24 new agency owners in the state this year and it will offer to pay people for referring qualified candidates. Including support staff the expansion is expected to create at …

GEICO’s Advertising Spending Slows But Still Tops $1 Billion: SNL

After two years of double-digit percentage increases in advertising spending, GEICO Corp. boosted its ad spend by just over five percent in 2013, according to research by  SNL Financial. GEICO, with its Gecko and Maxwell the pig mascots, has been …

Allstate Beefs Up Agency Force

Allstate Corp., the largest publicly traded U.S. home and auto insurer, increased its agency count for the first time since 2007 as the company targeted growth beyond the U.S. East Coast to diversify risk. The insurer had 11,600 Allstate-exclusive agencies …

Allstate: Catastrophe Losses in January Reached $277M

Allstate Corp. said estimated catastrophe losses for the month of January were $277 million. The cost is $180 million after tax, the personal lines insurer said. Catastrophe losses were from six events at an estimated cost of $271 million, pre-tax, …

Allstate Sees No Need for Big Homeowners Rate Increases

Allstate Corp. aims to grow its share of the U.S. home and auto insurance markets without the need for “abnormally large” rate increases, its CEO said, after the company’s profit more than doubled in the fourth quarter. Shares of Allstate, …

Hike in Auto Insurance Rates Expected in Illinois

Illinois drivers should get ready to pay more for insurance. Northbrook-based Allstate says in a regulatory filing that rates for customers will climb between 2.5 and 3.5 percent later this month. Esurance rates are rising about 3.2 percent in late …

Allstate Insurance to Expand in Midwest with New Agencies

Allstate Insurance Co. has announced plans to appoint new agency owners in Indiana, Michigan and Ohio this year. The company plans to appoint 21 new insurance agency owners in Indiana. Additionally, Allstate’s new and existing Indiana insurance agencies plan to …