Allstate News

Allstate Seeks to Recruit Over 100 New Exclusive Agency Owners in Northeast

Allstate Corp. announced its plan to grow its exclusive agency count and hire more licensed sales staff and financial professionals in the Northeast region. Allstate said Monday that it seeks to appoint 63 new Allstate-exclusive agency owners, approximately 172 licensed …

Esurance Becomes Baseball’s Exclusive Auto Insurance Partner

Esurance has become Major League Baseball’s exclusive auto insurance partner in a multiyear agreement that includes title sponsorship of the sport’s new all-digital All-Star balloting. Neither MLB nor Esurance, which was bought by Allstate Corp. in 2011 as part of …

Bell, Smith Top Allstate’s Stormiest Counties in Texas List

Allstate has tallied the top 25 Texas counties affected by severe weather; identifying areas with highest frequencies of wind and hail, and lightning related homeowner property damage claims from 2010 through 2014. Storms in Bell County, Texas, affected more Allstate …

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, …