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The Latest Breaking News from AllState

State Farm stopped insuring California homes due to climate risks. But it shares lobbyists with big oil

Allstate, too, has pulled out of climate disaster-prone areas while hiring lobbyists who are also aligned to fossil fuel interests

The Guardian - US

Column: State Farm is right. California can’t keep building housing in high-risk places

Back in January, on a dark night of pelting rain, Erica Lopez Bedolla had only minutes to evacuate her family from the impoverished Central Valley town of Planada after a levee broke.

Los Angeles Times

California lets Allstate hike rates — but insurer still won’t write new home policies

Allstate has received California’s blessing to raise homeowner insurance premiums 4%, but the state’s fifth largest home insurer said it has no plans to reverse its decision last fall to stop writing new policies.

Tribune News Service

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Can insurance come to our climate rescue?

California's fall from grace has been steep and swift, and now even the insurance companies are pulling out. The two biggest American home insurance companies, State Farm and Allstate, announced last week that they will stop selling insurance policies to Californians. Why? Climate change-related wildfires are making it too risky…

Bangkok Post

Why insurance companies are pulling out of California and Florida, and how to fix some of the underlying problems

When the nation’s No. 1 and No. 4 property and casualty insurance companies – State Farm and Allstate – confirmed that they would stop issuing new home insurance policies in California, it may have been a shock but shouldn’t have been a surprise. It’s a trend Florida and other hurricane-…

The Conversation

Uninsurable America: Climate change hits the insurance industry

The threat of climate change-related disasters is a large factor driving up consumer costs and putting insurers out of business.

Axios

California insurance market rattled by withdrawal of major companies

Two insurance industry giants have stepped back from the California marketplace

The Independent UK

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Car insurance prices soar in Illinois, Rep. Will Guzzardi aiming to crack down on insurers

Chicago rep wants to require getting prior state approval for rate hikes, ban “excessive” increases and outlaw consideration of gender, occupation and credit scores in car insurance pricing.

Chicago Sun-Times

Dealers still sell Hyundais and Kias vulnerable to theft, but insurance is hard to get

Some insurance companies have stopped issuing new policies for models that are subject to a high rate of thefts, but consumers are still able to buy the cars.

WEKU

Cheapest Home Insurance: How to Find the Best Policy

Homeowners insurance can help cover your home in the event of a burglary, fire or natural disaster and the following tips can help you score the cheapest policies.

Kiplinger

Television Q&A: Is that really Mayhem's brother in Allstate ad?

You have questions. I have some answers.

Tribune News Service

Samsung Galaxy S23 drop test is a great argument for buying a phone case

The Samsung Galaxy S23 isn't immune to fall damage, as drop tests conducted by Allstate Protection Plans reveals.

Tom’s Guide

Allstate NI names Dr Stephen McKeown as new Northern Ireland boss

He succeeds John Healy who announced his intention to stand down last year

Birmingham Post

Commuting is overrated and flexibility sells, says the CEO of Allstate

"Flexibility really sells," says Allstate CEO Tom Wilson, who prioritizes treating employees like customers.

Fortune

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The Denver Post

Thefts of Kias, Hyundais in Colorado chase away auto insurance companies

With car thefts spiking in Colorado the past few years, three auto insurance carriers are now declining to cover certain vehicles, leaving at-risk owners with fewer options.

Los Angeles Times

Californians are in for another bill increase: car insurance

Some California drivers will be getting a nasty surprise when they open their car insurance bills this year.

Chicago Sun-Times

Car insurance rate hikes could require state approval under new bill

Forty-eight states have oversight of car insurer’s rate hikes and prohibit that type of discrimination — but Illinois is not one of them. House Bill 2203 could change that.

Chicago Sun-Times

Pritzker sets aside $40 million for industrial growth

The state grants would be available for work on parcels of at least 200 acres.

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Tribune News Service

Laid off tech workers are about to get help from Allstate

Allstate Corp. plans to tap the pool of recently fired tech workers to help the insurer overhaul its business.

Benzinga

Looking At Allstate's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Allstate (NYSE:ALL). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

The Independent UK

Insurers say California's inaction threatens auto policies

Top U.S. insurance companies and associations say California is risking a crisis in the nation’s largest automobile insurance market by refusing to approve rate increases since the start of the coronavirus pandemic

Chicago Tribune

Allstate auto insurance rates jump 14% in Illinois. State Farm is up more than 8%. Both companies say inflation is to blame

Allstate raised auto insurance rates by 14% in Illinois last month, dramatically outpacing the national average and the inflation rate. State Farm wasn’t far behind, increasing rates by more than 8% for Illinois drivers in August.

Chicago Sun-Times

Illinois consumers need relief from car insurers raking in pandemic profits

Given the rising costs of gas, food and utility bills, state legislators are looking for ways to help their constituents. One way to do that would be to give the Department of Insurance tools to protect car insurance customers.

Chicago Sun-Times

Car insurers’ pandemic windfalls: Illinois insurers could have given you bigger refunds, maintained same profits

How much insurance companies collected — and how much more they could have given back to drivers.

Benzinga

$1000 Invested In Allstate 10 Years Ago Would Be Worth This Much Today

Allstate (NYSE:ALL) has outperformed the market over the past 10 years by 2.73% on an annualized basis producing an average annual return of 14.03%. Currently, Allstate has a market capitalization of $34.88 billion.

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