Allstate

From Wikipedia, the free encyclopedia
Jump to: navigation, search
This article is about the Allstate insurance company. For other uses, see Allstate (disambiguation).
Allstate Corporation
Type Public
Traded as NYSEALL
S&P 500 Component
Industry Insurance
Founded 1931[1]
Headquarters Northfield Township, Illinois, U.S.
Key people Thomas J. Wilson
(Chairman, President and CEO)
Products Auto, Home, Life, and Business Insurance. Retirement and Investment products, and Banking services.
Revenue Increase US$ 32.654 billion (2011)[2]
Operating income Decrease US$ 960 million (2011)[2]
Net income Decrease US$ 788 million (2011)[2]
Total assets Decrease US$ 125.563 billion (2011)[2]
Total equity Decrease US$ 18.674 billion (2011)[2]
Employees 37,000 (December 2011)[2]
Subsidiaries Encompass Insurance Company
Esurance
Website www.allstate.com
An Allstate agent in Moncton, New Brunswick, Canada

The Allstate Corporation is the third largest personal lines insurer in the United States (behind State Farm and GEICO) and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993.[3] The company has its headquarters in Northfield Township, Illinois, near Northbrook.[4][5] Its current advertising campaign, in use since 2004, asks, "Are you in good hands?" The corporate spokesperson is Dennis Haysbert.

Allstate sponsors many sporting events, including the Allstate Sugar Bowl, the United States Olympic Committee. In 2009, Allstate's total revenue was $32 billion, of which $26.2 billion came from Property Liability.[6][7]

History[edit]

In 1925, Sears, Roebuck & Co. held a national contest to decide the name of a new brand of car tires. After over two million name submissions, "Allstate" was chosen as the winner; the trademark was adopted the very next year. The tires' success in both the catalog and retail stores prompted Sears Chairman General Robert E. Wood to praise the Allstate tire's contribution to Sears' retail store success.[1]

The idea for Allstate Insurance Company came during a bridge game on a commuter train in 1930, when insurance broker Carl L. Odell proposed to Wood, his neighbor, the idea of selling auto insurance by direct mail. The idea appealed to Wood, and he passed the proposal to the Sears board of directors, which approved it. Allstate Insurance Company, named after Sears’ tire brand, went into business on April 17, 1931, offering auto insurance by direct mail and through the Sears catalog.[8]

Lessing J. Rosenwald was Allstate's first board chairman, and Odell was named vice president and secretary.[9]

In 1933, at the Century of Progress World’s Fair in Chicago, Allstate’s Richard E. Roskam sold insurance at a booth in the Sears pavilion. In 1934, Allstate opened its first permanent sales office in a Chicago Sears store.[10]

In 1941, only about a quarter of U.S. drivers had auto liability insurance. This led to the state of New York passing a law which established the financial responsibility of drivers for damage or injuries resulting from auto mishaps. That law inspired legislation in other states, and by the mid-1950s nearly every state had some sort of financial responsibility law on its books.[8]

In 1949 the Allstate Headquarters Building was completed at 3245 W. Arthington Street in Chicago.[11] The mid-rise building is currently vacant (as of 2013) and in danger of demolition. The building is noted for its early post-war mid-rise construction. This location was vacated at some point when the company relocated in the post-war years.

The company’s "You're in Good Hands with Allstate" slogan was created in 1950 by Allstate’s general sales manager Davis W. Ellis. At the end of the decade, it was used in the company's first network television advertising campaign, which featured actor Ed Reimers.[9]

Allstate added products throughout the 1950s, including fire insurance in 1954 and homeowners and life insurance in 1957. Allstate began selling insurance to Canadians in 1953. Allstate Insurance Company of Canada was incorporated in 1964.[8] (In 1952 and 1953, Sears also sold an automobile called Allstate.)

In 1967, the company's home office was moved from Skokie to Northbrook, Illinois. Allstate continued to sell additional types of insurance to customers throughout the decade, including worker's compensation insurance in 1964, surety bonds in 1966, inland-marine coverage in 1967 and a business package policy in 1969.[9]

The brand itself expanded in the 1950s and 1960s and could be found on a variety of products like fire extinguishers and motor scooters. In 1952, an Allstate car was produced, but it was a flop; it was pulled from stores by 1953. The Allstate brand was eventually limited to insurance, tires, and car batteries by the late 1960s before becoming insurance-only in the mid-1970s.[1] In 1991, the company went public[3] before becoming completely independent in 1995.[1]

In 1985, Allstate began to move agents out of Sears stores and locate agents in neighborhood offices. In June 1993, 20 percent of Allstate became public through a stock offering. Allstate became completely independent in June 1995, when Sears spun off the remaining 80 percent stake in the company, distributing 350.5 million shares of Allstate stock to its stockholders.[8]

In 1999, Allstate unveiled a new business model that created a single contract for exclusive, independent agents selling Allstate insurance. It also created a network of call centers.

In 1999, Allstate purchased the personal lines division of CNA Financial[12] and subsequently renamed it to Encompass Insurance Company which is written by independent insurance agents, as opposed to the direct writing that constitutes the core part of its business.[13]

In 2003, actor Dennis Haysbert became Allstate’s spokesman, using the tagline "That’s Allstate’s stand."[14]

In 2010 the actor Dean Winters became a part of Allstate’s campaign "Mayhem" “personifying the pitfalls, like collisions and storm damage, that can befall drivers”.

Corporate leadership[edit]

[10]

CEOs[edit]

Since going public in 1993:

  • Thomas J. Wilson (2007–present)
  • Edward Liddy (1999–2006)
  • Jerry D. Choate (1995–1999)
  • Wayne E. Hedien (1993–1994)

Current leadership[edit]

  • Thomas J Wilson- Chairman, President, CEO
  • Catherine S. Brune- President Allstate Protection East Territory
  • Don Bailey- President, Emerging Businesses (Business to Business)
  • Anurag Chandra- Chief Operating Officer Allstate Financial
  • Katherine Mabe- President, CEO, Allstate Financial
  • James DeVries- Executive VP, Chief Administrative Officer
  • Judith P. Greffin- Executive VP, Chief Investment Officer Allstate Investments
  • Suren Gupta- Executive VP Allstate Technology & Operations
  • Guy Hill- Product Executive VP, West Territory
  • Susan Lees- Executive VP, General Counsel
  • Jim Haskins - President Allstate Protection West Territory
  • Michael J. Roche- Executive VP of Claims
  • Steven E. Shebik- Executive VP, CFO
  • Steven Verney- Executive VP, Chief Risk Officer
  • Sanjay Gupta- Executive VP, Marketing, Innovation and Corporate Relations
  • Matthew Winter- President, Allstate Auto, Home and Agencies
  • Joe Kleinhenz- Big Data Analytics and Product Intelligence

Advertising[edit]

"Good hands"[edit]

Allstate's slogan "You're in good hands" was created in the 1950s by Allstate Insurance Company's sales executive, Davis W. Ellis based on a similar phrase he used to reassure his wife about a doctor caring for their child. It has been the slogan ever since.

In the 1960s and 1970s, TV, print and radio advertising featured Allstate’s spokesman, Ed Reimers. Reimers was often shown making the cupped-hand gesture. For 22 years, he remained the spokesman.[15]

A study in 2000 by Northwestern University's Medill Graduate Department of Integrated Marketing Communications found that the Allstate slogan "You're in good hands" ranked as the most recognizable in America.[16]


"Allstate’s stand"[edit]

Beginning in 2003, as policy growth slowed, Allstate’s television commercials used spokesman Dennis Haysbert. The ads were intended to carry the message that Allstate's service was superior to that from low-cost providers Geico and Progressive.[17]

Mayhem[edit]

Beginning in 2010, Allstate used Dean Winters as "Mayhem", mean to personify the hazards drivers face. The ads conclude with Haysbert asking "Are You In Good Hands?"[18]

Social media[edit]

In January 2011, Allstate released The Lines,[19] a multi-episode TV drama web series starring actors Teresa Cesario, Kyle Sandgate-Blix, Jackson Schultz, Bridgette Pechman, Chase Maser, and Corey Doyle cast as High-School seniors. The series, filmed in the style of a television drama, depicts the cast in common situations facing teens with respect to driving (Texting while driving in particular). The series appears aimed at promoting interest and support in favor of responsible teen driving and road-safety in general. The Lines spans a total of 8 episodes, each 6–8 minutes in length. Allstate and other large corporations are attracted to the rapid growth of social media for use in their advertising campaigns.

Organization[edit]

Allstate Corporation owns and operates 17 companies around the United States and Canada.[20]

Based in San Francisco, California

  • Esurance, Inc.

Based in Northbrook, Illinois

  • Allstate Fire and Casualty Insurance Company
  • Allstate Insurance Company
  • Allstate Indemnity Company
  • Allstate Life Insurance Company
  • Allstate Property and Casualty Insurance Company
  • Encompass Insurance Company

Based in Bridgewater, New Jersey

  • Allstate New Jersey Insurance Company
  • Allstate New Jersey Property and Casualty Insurance Company

Based in Hauppauge, New York

  • Allstate Life Insurance Company of New York

Based in St. Petersburg, Florida

  • Castle Key Insurance Company
  • Castle Key Indemnity Company

Based in Irving, Texas

  • Allstate County Mutual Insurance Company
  • Allstate Texas Lloyd's

Based in Jacksonville, Florida

  • American Heritage Life Insurance Company

Based in Markham, Ontario

  • Allstate Insurance Company of Canada

Sponsorship[edit]

College football[edit]

Allstate sponsors branded field goal nets at over 67 colleges and universities. For each field goal and extra point kicked, Allstate donates into collegiate general scholarship funds. To date, those donations exceed $2.9 million. Allstate also sponsors branded nets during field goals and extra points at over 20 college bowl games, including the Allstate Sugar Bowl and the BCS National Championship Game.

Additionally, Allstate is a partner of the Southeastern Conference and its 20 sports, including football.[21]

Sugar Bowl[edit]

Since 2007, Allstate has been the title sponsor of the Sugar Bowl, one of the four games that make up the Bowl Championship Series. The game is played at the Louisiana Superdome, which is also the home of the New Orleans Saints. Allstate is also a sponsor of the New Orleans Saints.

The 2012 Allstate BCS National Championship Game was played on January 9, 2012 and broadcast on ESPN.

Allstate Wrigleyville Classic[edit]

The Northwestern Wildcats and the Illinois Fighting Illini played a collegiate football game at Wrigley Field on November 20, 2010. It was the first football game at Wrigley Field since 1970 and the first collegiate football game at Wrigley Field since 1938 when DePaul University played its regular games at Wrigley.[9] Allstate title sponsored this game.[22]

Allstate AFCA Good Works Team[edit]

Allstate advertises through the American Football Coaches Association "Good Works Team" in which local Allstate agents surprise players with trophies in key Allstate marketing regions.

Soccer[edit]

In 2007, Allstate became a sponsor of the Mexican National Team, and in 2011 partnered with Major League Soccer and the United States Soccer Federation.[23]

NASCAR[edit]

Allstate was a sponsor of the Allstate 400 at the Brickyard from 2005-2009 – the annual NASCAR Sprint Cup Series race held at Indianapolis Motor Speedway in late summer.[24] Driver Kasey Kahne was featured in advertisements.

Awards and recognition[edit]

Allstate Insurance has been acknowledged for its accomplishments in the corporate environment.[25]

  • 2012 Working Mother 100 Best Companies - Working Mother magazine.
  • InformationWeek 500 List of the 250 Top Business Technology Leaders - InformationWeek magazine. Allstate was ranked 11th on the overall 2012 list.
  • America's Most Admired Companies - Fortune magazine, Allstate ranked #5 in Property & Casualty Industry in 2007 and 2009.
  • 100 Best Companies for Working Mothers - Working Mother magazine, 20-year award winner and Hall of Fame inductee (1990, 1992–2010).
  • Advertising Mom of the Year – Lisa Cochrane - Working Mother magazine (2010)
  • 100 Best Corporate Citizens – Corporate Responsibility Officer Magazine (2009)
  • Top 50 Companies - Diversity MBA Magazine, Award winner for third consecutive year (2007–2010)
  • 100 Best Adoption- Friendly Workplaces - Dave Thomas Foundation for Adoption (2007–2010)
  • Corporate Equality Index and Best Places to Work - Human Rights Campaign Foundation (2007–2010)
  • Best Companies for Women of Color - Working Mother magazine (2004–2010).
  • Top 50 Companies for Diversity, DiversityInc magazine, seven-time award winner (2001–2007).
  • Top 25 Noteworthy Companies for Diversity, DiversityInc magazine, (2008, 2010).
  • Top 50 Company for Supplier Diversity - Hispanic Trends (2007)
  • Top Companies for Supplier Diversity – Diversity Executive magazine (2009)
  • One of the 'Best Places to Work for Latinos' - Hispanic magazine, Award winner for twelfth consecutive year (1996–2007).
  • 50 Best Companies for Latinas to Work - LATINA Style magazine, Award winner for twelfth consecutive year (1998–2010).
  • Top 50 Best Companies for Hispanics to Work - Hispanic Business (2005–2009).
  • Top 30 Honorable Mention – Crain '​s Best Places to Work (2009)
  • Top 10 Companies for African Americans to work - DiversityInc Magazine, five-time award winner (2003–2007).
  • The Top Company for Blacks in Technology - The National BDPA (Black Data Processing Associates) and WorkplaceDiversity.com (2003–2010).
  • Best Legal Department - Corporate Counsel Magazine, 2007 finalist
  • Best Diversity Company - Diversity/Careers in Engineering and Information Technology (2007, 2009, 2010)
  • Top 100 Best Places to Work in IT - Computerworld magazine, Award winner for ninth consecutive year (1997–2005).
  • Top 50 Executives in Technology - Hispanic Engineer magazine, Award winner for fourth consecutive year (2002–2005).
  • Top 100 Innovative Users of Information Technology - InformationWeek (2007, 2008)
  • Top 100 Company for Employee Training and Development - Training magazine, Award winner for the eighth consecutive year (2001–2008).
  • Top 100 in Global 2000 Companies - Forbes magazine (2006, 2007)
  • Top 200 for World's Largest Corporations - Fortune magazine (2007)
  • Top 10 in Chicago's Largest Public Company - Crain '​s magazine (2007, 2008)
  • Top Company for Executive Women - National Association of Female Executives (NAFE), (2000–2001, 2005–2010).
  • Chicago's Largest Public Companies, Crain's Chicago Business, Ranked #4 in 2003 & 2004 and Ranked #7 in 2007& 2008

Products available[edit]

Allstate is the largest publicly traded property casualty insurance company in the US.[26] Products include:

Insurance products[edit]

Asset protection: auto insurance, homeowners insurance, condominium, renters, scheduled personal property, business umbrella, commercial auto, commercial inland marine, small business owner, customizer and business package policy, landlord package, manufactured home, mobile home, motor home, motorcycle, boat, personal umbrella, comprehensive personal liability, recreational vehicle, off-road vehicle, motor club, loan protection and flood protection.

Wealth transfer[edit]

Estate planning products, business succession planning products, fixed survivorship life, and variable survivorship life family protection insurance, term life, universal life, variable universal life, long-term care and supplemental health

Financial products[edit]

Asset management and accumulation, life insurance and retirement

Environmental record[edit]

Allstate has a Sustainability Leadership Team composed of officers and senior staff from all areas of the company. The team focuses on sustainability efforts from a company-wide perspective — including environmental initiatives that embed “green” programs and processes throughout their operations.[27]

Environmental initiative results[edit]

  • Newsweek magazine named Allstate to list of the "Top 100 Greenest Companies in America" in 2010 and 2011.
  • Decreased enterprise-wide carbon footprint (direct and indirect emissions) by 9% in recent years 24% relative to 2007 baseline as disclosed in the 2012 Carbon Disclosure Project report.
  • Decreased energy use in Allstate-owned facilities by 5% in 2011 and 4.75% relative to 2007 baseline.
  • In 2011, Allstate replaced bottled water service with water filtration filling stations. This initiative eliminated the consumption of approximately 637,310 bottles in 2011.
  • Expanded recycling program and introduced a Secure Paper Disposal Program across the company. The program recycled over 5 million pounds of paper.
  • Reduced company wide use of office paper by 11.4% from 2010 levels, which includes a 40% reduction at the corporate headquarters and 4% reduction in regional field offices.
  • Reduced customer-focused paper in 2011 by 22% since 2012 through electronic policy, billing and payment options. This reduced consumption by approximately 24 million pieces of paper in 2011.[28]

Criticism[edit]

In July 2008, the American Association for Justice ranked Allstate No. 1 among nation's worst insurers. This ranking was given because: “While Allstate publicly touts its ‘good hands’ approach, it has instead privately instructed its agents to employ a ‘boxing gloves’ strategy against its policyholders,” said American Association for Justice CEO Jon Haber. They've since revamped their approach. [29] Allstate criticized the report, with a spokesman noting that "The personal injury lawyers behind this report provide no support for their statements other than decade old recycled allegations that have been shown to be without merit in courts of law." [30] In 2009 Allstate successfully fought to obtain Federal government TARP fund eligibility only to decline it once they obtained eligibility.[31]

Auto insurance claims[edit]

An investigative report in February 2007 by CNN found that major car insurance companies, like Allstate, are increasingly fighting auto insurance claims from those who incurred injuries by their insured members.[32] Allstate currently commands 18% of the auto insurance market in the United States.[33]

Homeowners claims[edit]

The PBS television program Now,[34] in conjunction with Bloomberg Markets magazine, did an exposé regarding Allstate and other major insurer's homeowners insurance policies.

Catastrophe exposure management[edit]

Allstate has stated intentions of reducing its exposure in hurricane-prone Florida. In November 2006, Allstate did not renew 120,000 policies that were expiring at that time. Governor Charlie Crist and the Florida Cabinet passed a 90-day emergency order to temporarily prevent insurance companies from nonrenewing policies.[35] On February 20, 2007, Florida Insurance Commissioner Kevin McCarty clarified the order, stating that insurance companies can nonrenew policies if they satisfy certain conditions, including filing new, lower rates with the state and give customers 100 days’ notice.[36]

From Good Hands to Boxing Gloves[edit]

This is the title of a book written by David Berardinelli, JD;, Michael Freeman, PhD, DC, MPH; and Aaron DeShaw, DC, JD with a foreword by Eugene R. Anderson.[37]

The book relates profit-boosting strategies that consulting firm McKinsey & Company presented to Allstate to maximize profits and diminish the amount of money sent to clients who put in a claim. McKinsey specializes in redesigning product delivery systems for Fortune 100 companies (including controversial clients such as Enron) to maximize profits. McKinsey’s recommendation to Allstate, according to Berardinelli, was to low-ball claims so that desperate customers in dire straits would be more likely to accept a settlement offer while Allstate continued to make a profit and collect interest on the insurance payment. Allstate would offer its "good hands" in the way of a low-ball claim and, if the customer did not accept, to get out "boxing gloves." [38]

The book was reviewed by Business Week magazine.[39] According to that article, Allstate responded to Bertinelli's allegations by claiming that Berardinelli's allegations were "unfounded and unproven." Rather than trying to cheat customers, the company stated that its major goal was to benefit policyholders by identifying "exaggerated and fraudulent claims" and that its "processes are absolutely sound . . . to investigate, evaluate, and promptly resolve each claim fairly, based on the merits."[39]

Court decisions on the issues debated by Berardinelli and Allstate have gone both ways. According to the Business Week article, as of 2006, "Courts and regulators in a number of states, including New York, Pennsylvania, and Washington, have forced Allstate to halt or change its practice of handing out a controversial 'Do I Need an Attorney?' form to people involved in accidents." On the other hand, the article also states that "Although plaintiffs have had piecemeal success in bad-faith cases against Allstate, the insurer points to seven court rulings that have rejected attacks on CCPR. Last December a Montana state court noted that while CCPR practices may be illegal 'if misapplied in a particular case, they nevertheless are neutral with no manifestly illegal purpose.'" While many of the cost-reduction strategies McKinsey recommended at Allstate remain in place, some have been reined in following legal and regulatory challenges in several states.[39]

Use of Colossus[edit]

Many criticisms leveled against Allstate (and other insurers), including Barardinelli's book, involved the use of a software program called "Colossus" to process claims. In 2010, Allstate paid a $10 million fine to settle a lawsuit brought by 41 states concerning inconsistencies in the manner in which Colossus was used. It also agreed to standardize its use of the software. However, “it is important to note that we found no systemic underpayment of bodily injury claims,” New York Insurance Superintendent James J. Wrynn said in a press release.[40]

See also[edit]

References[edit]

  1. ^ a b c d "Allstate: 1996-1995 (Sears' divestment)". Sears. 2006-10-31. Archived from the original on 8 August 2010. Retrieved 2010-07-09. 
  2. ^ a b c d e f "Allstate, Form 10-K, Annual Report, Filing Date Feb 22, 2012". secdatabase.com. Retrieved Jan 4, 2013. 
  3. ^ a b "Allstate Newsroom - History and Timeline Page". Allstate. 2010. Retrieved 2011-02-17. 
  4. ^ "Contact Us." Allstate. Retrieved on August 9, 2010.
  5. ^ "Northbrook village, Illinois." U.S. Census Bureau. Retrieved on August 9, 2010.
  6. ^ "The Allstate Corporation Notice of 2010 Annual Meeting, Proxy Statement and 2009 Annual Report". Allstate. 2010-04-10. Retrieved 2010-07-09. 
  7. ^ Elliott, Stuart (2010-06-21). "Allstate Adds Villain, With Car Insurance as the Hero". The New York Times. Retrieved 2012-01-28. 
  8. ^ a b c d "Encyclopedia- Allstate Corp.". Encyclopedia.com. Retrieved 2011-02-23. 
  9. ^ a b c "Funding Universe- The Allstate Corporation- Company History". Funding Universe. Retrieved 2011-02-23. 
  10. ^ a b "Allstate Insurance Company Digital Newsroom - History and Timeline". Allstate. Retrieved 2011-02-17. 
  11. ^ "7 buildings make Preservation Chicago most endangered list". Chicago Tribune. 2013-03-13. 
  12. ^ "Allstate, Form 8-K, Current Report, Filing Date Oct 12, 1999". secdatabase.com. Retrieved Jan 4, 2013. 
  13. ^ "Allstate, Form 10-Q, Quarterly Report, Filing Date Nov 13, 2000". secdatabase.com. Retrieved Jan 4, 2013. 
  14. ^ "The Most Popular Car Insurance Spokespeople & Mascots". Retrieved 2011-02-23. 
  15. ^ McLellan, Dennis (2008-08-18). "Ed Reimers dies at 96; Allstate placed ad campaign in his hands". Los Angeles Times. Retrieved 2012-02-29. 
  16. ^ "2000 Advertising Slogan Hall of Fame". 2000. Retrieved 2012-02-29. 
  17. ^ Howard, Theresa (2004-08-15). "Presidential Allstate ads counter the gecko". USA Today. Retrieved 2012-02-29. 
  18. ^ Elliott, Stuart (2000). "Allstate Adds Villain, With Car Insurance as the Hero". The New York Times. Retrieved 2012-02-29. 
  19. ^ Allstate produced tv drama web series "The Lines" http://www.youtube.com/watch?v=xXPWdqaiGeY
  20. ^ "Allstate Insurance". Allstate.com. Archived from the original on 27 July 2010. Retrieved 2010-07-21. 
  21. ^ "Allstate Proud Sponsor of College Football". Allstate.com. Retrieved 2011-05-18. 
  22. ^ "Allstate to sponsor NU-Illinois Wrigley Field game". Chicago Breaking News Sports. 2010-08-27. Retrieved 2011-05-18. 
  23. ^ "Score with Soccer Sponsorships". AllstateNewsroom.com. 2011-02-14. Retrieved 2011-05-18. 
  24. ^ "Allstate Not Returning to Indianapolis". NASCAR.com. 2009-07-28. Retrieved 2011-05-18. 
  25. ^ "Recognition". Allstate.com. Retrieved 2012-10-26. 
  26. ^ "Allstate Insurance LinkedIn Page". LinkedIn.com. Retrieved 2011-11-10. 
  27. ^ "Allstate Insurance Environment Key Performance Indicators and Goals". Allstate.com. Retrieved 2012-09-25. 
  28. ^ "Allstate Social Responsibility Report". Retrieved 2012-09-25. 
  29. ^ Wemple, Erik (9 July 2008). "Allstate Gets a Spanking". Washington City Paper. Retrieved 2010-07-21. 
  30. ^ Phoenix Business Journal: "American Association of Justice ranks Allstate No. 1 among nation's worst insurers"
  31. ^ "Allstate: No thanks to TARP money". money.cnn.com. May 19, 2009. Retrieved 2010-07-21. 
  32. ^ In some cases, Allstate proposed settlement amounts as small as $50, asking claimants to "take it or leave it". The investigative report found that insurance companies often make it so expensive and time consuming to go to court to get full settlement amounts, that it would not be worth the victims time. The claims handled in the matter were very minor collision type losses that did not result in any ($0) damage to the car, and therefore was the insurance company protecting it assets and the premium paying public money, by keeping rates as low as possible."Auto insurers play hardball in minor-crash claims". CNN. 2007-02-09. 
  33. ^ "A Good Deal on Auto Insurance: How to Find the Best Affordable Coverage". AutoInsuranceTips.com. 
  34. ^ Now - PBS (2007-08-17). "Home Insurance 9-1-1". PBS.org. Archived from the original on 20 June 2010. Retrieved 2010-07-21. 
  35. ^ Garcia, Beatrice E. (2007-02-21). "Date set for insurance rate filings; Insurers can resume policy cancellations as soon as they file required rate reductions in mid-March". The Miami Herald. 
  36. ^ Zucco, Tom (2007-02-20). "Ruling: Insurers can drop policies". St. Petersburg Times. 
  37. ^ David, Berardinelli; Freeman, Michael (2008). From Good Hands to Boxing Gloves: How Allstate Changed Casualty Insurance in America. Trial Guides. ISBN 0-9743248-9-2. 
  38. ^ "Allstate, State Farm, Other Bad Faith Insurance Companies Rack up Record Profits by Cheating Customers". Newsinferno.com. 2007-08-03. Retrieved 2010-07-21. 
  39. ^ a b c "In Tough Hands At Allstate". Business Week. 2006-05-01. Archived from the original on 14 July 2010. Retrieved 2010-07-21. 
  40. ^ Allstate Will Pay $10 Million, The Buffalo News(Buffalo, NY:October 19, 2010) http://www.buffalonews.com/business/article224099.ece

External links[edit]