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.
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.
In the fourth quarter, catastrophe losses took $315 million out of Allstate’s homeowners insurance business, up from $21 ...
Allstate Corp. said it expects about $1.1 billion in losses from the wildfires that destroyed Los Angeles County communities ...
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 ...
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$1.1 Billion Loss For Allstate Amidst California FiresJust months before the Southern California wildfires, many insurance companies, including Allstate, backed out of the ...
Allstate Insurance says it will pay out $1.1 billion in claims caused by the wildfires that swept through Southern California in January. While the expected payout is significant, Allstate ...
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