Allstate Posts $923M Net Loss for Q3

October 23, 2008

  • October 24, 2008 at 12:08 pm
    Pud says:
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    Allstate is obviously in a state of disarray! They told me they did not insure in the state I currently reside but they did insure me in the state I moved from.Their rates were competetive and my agent was the best as well as his staff but when I moved they told me they could not help me because Allstate had stopped writing policies in the state I now reside.They also dropped homeowners so who is a sleep at the wheel here.It takes no brain to figure out that if you are going to pick and choose where you insure and when you charge double the rates of a few companies you will not make money! Simple isn’t it.
    Allstate was double the cost of my current premiums with have the coverage on my declarations page.I wanted to at least cover my assets in the event I would have an accident that was my fault.
    This credit rating stuff is a freakin joke to.They penalize you for not being married which is BS in my book.I have an excellent credit score and clean driving record,knock on wood,and yet I pay more for insurance than any married or single person.Now they are telling me it’s because of the vehicle I drive which by the way they helped manufacturers design and assured the public would be just as safe as a boxed frame vehicle.These people running the insurnace industry need to make up their minds and decide what they actually want so we the consumer can make the proper decisions and not be raped with high premiums.

    If Allstate is loosing money in auto insurance it’s because like many companies they are hiring kids out of college for half the salary of the seasoned veteran adjuster that was making a decnt living and has been forced to retired or the company found a reason to terminate them.
    They have made their beds now they can sleep in it!

  • October 23, 2008 at 12:35 pm
    Concerned says:
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    Doensn’t make sense that they continue to be so very aggressive in certain areas on Homeowners, like the State of Rhode Island,when they have virtually shutdown in neighboring states. Must be using hurricane models from North Dakota.

  • October 23, 2008 at 1:07 am
    Big Turtle says:
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    Not for long. They will be raising rates.

  • October 23, 2008 at 2:44 am
    Outraged! says:
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    Why AllState is too big to fail!! I demand that they be bailed out! If not, why, everyone in America will perish! There will be widespread terror attacks! No one will have a job! Epidemics of cholera, the black death, herpes, ebola virus and every other disease known to man will spread! Congress/Hank “Vladimir Lenin” Paulson/George “everything Hitler did was legal” Bush must do something now!

  • October 23, 2008 at 2:50 am
    Baxtor says:
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    I’m with you outraged! I don’t want herpes. Bail out Allstate NOW Paulson, you giant money stealing weasel!

  • October 23, 2008 at 3:10 am
    joe says:
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    An insurance companies fitrst responsibilty…-well…JOINT and prime responsibility are to their investors who put up the green to make it work and to the premium-paying policyholders
    End of story

  • October 24, 2008 at 9:15 am
    Bhlars says:
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    Excuse me Pud, but your “i lost my job and it’s someone else’s fault” is showing. Try spell check next time.

  • October 24, 2008 at 12:30 pm
    truxton says:
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    I wonder how much additional money they would have lost if they paid thier claims fairly.

  • October 24, 2008 at 2:04 am
    Pud says:
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    It’s sickening to hear all you people whine that your not making money.It’s a good thing this is not a public post either as for my spelling kma.You are likely an Obama supporter!

  • October 24, 2008 at 2:11 am
    P8ud says:
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    There is always one DA in the group.You pick on my spelling instead of the subject.
    They can’t pay claims fairly.They’ve staffed adjusters right out of college and they don’t know squat about settling claims.I call them drones.
    Ins Co’s want drones these days. They do not want people that know how to comply with local and federal laws.
    This allows the company to drop the responsiblity in the lap of the adjuster and their license!
    I have know idea what you are referencing to there BShlars.I didn’t loose my job and I’m not one of those idiots that of extended there expenses,ya know like Ins Co’s do with bonuses.

  • October 24, 2008 at 2:14 am
    Pud says:
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    Oh ooops I did it again huh!
    I didn’t over extend myself financially.Can you say that?

  • October 27, 2008 at 12:11 pm
    Bluemax says:
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    May I suggest everyone get a copy of “The Ten Worst Insurance Companies In America”. It is a 16 page piece written by American Association for Justice formerly known as the Association of Trial Lawyers of America.

  • October 27, 2008 at 12:40 pm
    Kreskin says:
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    Hard market is coming, This is what happens before it gets hard. Companies start to lose profit margins, investment income deteriorates, Democrats take control and lawyers thrive. Mark my words the end of next year all casualty lines harden.

    By the way why hasnt anyone asked Obama on his stance on affirmative action? We all know now he wants to redistribute our wealth. What about our jobs?

  • October 27, 2008 at 2:42 am
    Pud says:
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    Screw BinObama! He is the cause of all this crap! They are trying to pawn it off on the realestate market and it’s been his campaign against capital gains and inheritance taxes that has caused this frenzy!
    Obama wants socialism and he has the average Dumb*** voting for him but it ain’t over until it’s over.

  • October 27, 2008 at 2:56 am
    Allstate Agency 4sale says:
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    Let’s see Allstate… this happens when you put the screws to your Agents.

    RFG?
    CIC?
    Reduced life comsissons
    Canada Agents lost their books?
    Putting the shareholders first and Agents last! It will only get worse…

    You gotta love Karma!



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