Allstate Reports $923M Loss for 3Q
Property, casualty and auto insurer Allstate says hefty hurricane-related losses and the ongoing global financial crisis drove the company to a third-quarter loss. Northbrook, Ill.-based Allstate Corp. said Wednesday it lost $923 million, or $1.71 per share, after a profit of $978 million, or $1.70 per share, a year ago. Revenue fell to 7.3 billion
Allstate Suing Florida Shops for Alleged Fraud
Allstate Insurance has filed a lawsuit against a group of Florida policyholders and 13 companies, including body shops, tow truck operators and chiropractic clinics, accusing them of staging 17 car accidents and filing fraudulent claims. The suit, filed this month in the U.S. District Court for the Southern District of Florida, seeks around $1.5 million
Allstate Donates to I-Car Education Foundation
Allstate Insurance Company contributed $60,000 in September to the I-CAR Education Foundation’s Industry Partners Annual Fund. The donation will support the foundation’s activities that promote and enhance career opportunities in the industry. "We continue to view the mission of the I-CAR Education Foundation as critical to the development of collision industry professionals,” said Bill Daly,
Allstate Releases Statement on Full-Body Sectioning
Allstate Insurance Company announced today that it will no longer specify full-body sectioning on damage estimates. A release from the company stated that full-body sectioning will be authorized by Allstate adjusters only “when a collision repair facility is confident that a full-body section is the appropriate repair, has the proper training and equipment to facilitate
Former SCRS Executive Director Joins Allstate
Allstate Insurance Company announced that former Society of Collision Repair Specialists (SCRS) executive director Dan Risley has joined the Allstate claims organization as a staff claim analyst as part of the company’s efforts to strengthen its relationship with the collision repair industry. Risley will work out of the company’s home office in Northbrook, Ill., in
State Farm, Allstate Raising Rates in Texas
State Farm and Allstate customers in Texas will be paying increased rates, despite urging from the Consumer Federation of America (CFA) to governors nationwide to look into lowering insurance rates to match decreased driving due to high fuel costs. State Farm Mutual, with 3 million policyholders, will increase rates an average 2.4 percent Oct. 27;
Allstate Settles Bad-Faith Suit One Week Before Trial
Allstate settled a bad-faith lawsuit in Missouri last week that helped net millions of dollars in fines against the company and prompted the release of controversial documents outlining the company’s alleged tactics for low-balling customers’ claims. The suit stemmed from a September 2000 accident in an interstate construction zone. A man driving about 70 miles
Allstate Ranked Worst Insurer for Customers
The American Association for Justice (AAJ) ranked Allstate the “worst insurer for customers” in a recent release naming its top 10 worst insurers. The AAJ claimed it found a “pattern of insurance industry greed” among the 10 companies and accused the insurers of using “hardball tactics” against policyholders, habitually denying or delaying claims payouts and
ASA Talks With Allstate About New Technology
The Automotive Service Association (ASA) recently met with Randy Hanson, a claim service manager for Allstate who’s overseeing its direct-repair program, to learn about Allstate’s new technology efforts and vendor credentialing program. Allstate recently announced that it’s moving forward with an “open platform” concept for repair facilities in its Priority Repair Option (PRO) program. The
Webinar to Focus on Allstate’s Auto Physical Damage Business and Process Model
Collision Repair Executive Webcast (CREW) will present a webinar on May 22 at 11 a.m. PDT on Allstate’s auto physical damage business and process model “Open Platform” Next Generation Release 2.5. Guests will include Bill Daly, assistant vice president claims, and Nick Notte, director auto claims. Daly and Notte will describe the key deliverables, the