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Allstate, Los Angeles

Allstate says California wildfires to bring company $1.1 billion in losses

Allstate said the wildfires blazed through Southern California last month will bring the insurance company a sizable loss – $1.1 billion.

Crain's Chicago Business · 6d

Allstate expects a $1.1 billion hit from the LA wildfires, but it could have been worse

Allstate Corp. said it expects about $1.1 billion of losses from the wildfires that ravaged swaths of Los Angeles last month. The anticipated cost partly reflects the Northbrook-based insurer's decision to reduce market share beginning in 2007, the insurer said in a statement Wednesday, when it reported fourth-quarter results.

The Financial Times · 4h

US insurers face billions in losses from Los Angeles wildfires

Major insurers face billions of dollars in losses from the Los Angeles wildfires, they said this week, despite dropping clients in California before the catastrophe. AIG and Allstate and are among the national insurers that warned of losses even after they cut their exposure to the state in recent years.

U.S. News & World Report · 15h

California's $1 Billion LA Wildfire Bill Highlights Insurers' Struggle, Analysts Say

California's levy of $1 billion on private insurers to help pay out wildfire claims in its state-run program has renewed focus on the challenges the industry faces in a market already losing appeal rapidly,

California FAIR Plan is running out of money

Business Insider on MSN · 17h

California's last-resort home insurer is getting a $1 billion bailout. Homeowners could be on the hook for some of the bill.

The bailout will be funded by the state's private insurers, but a new rule says they they can pass up to half of the cost on to customers.

The Spokesman-Review · 1d

California’s high-risk insurer gets $1 billion bailout after L.A. fires

California's home insurance plan of last resort, designed for people who can't get coverage on the private market, does not have enough money to pay claims from the Los Angeles wildfires and is getting an infusion of cash from regular insurers.

San Francisco Chronicle on MSN · 1d

California FAIR Plan is running out of money; nearly all homeowners to help bail it out

The California FAIR Plan does not have enough money to weather the impact of the record-breaking Los Angeles wildfires on its own. Instead, it will turn to private insurers for help — triggering a process where insured California homeowners across the state will end up paying part of the bill.

6don MSN

Allstate expects $1.1 billion loss from California fires

Allstate insurance said it expects a $1.1 billion loss from claims caused by the wildfires that swept through Southern ...

7don MSN

Allstate Expects California Wildfires to Cost $1.1 Billion

In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners insurance business, up from $21 ...

6don MSN

Allstate expects $1.1 billion in losses from Los Angeles fires

Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities ...

11h

Amazon, Allstate Flooded with Class Actions Targeting Alleged Collection of Geolocation Data

Big Tech giant Amazon, its subsidiary Amazon Advertising, insurance company The Allstate Corporation and Allstate's data ...

Hosted on MSN1d

$1.1 Billion Loss For Allstate Amidst California Fires

Just months before the Southern California wildfires, many insurance companies, including Allstate, backed out of the ...

Allstate: Improving Results But Lackluster Capital Returns (Rating Upgrade)

Allstate beat Q4 expectations with strong earnings and revenue growth. See why ALL stock is rated a hold due to concerns over auto exposure and capital returns.

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