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Allstate Closes $1 Billion Purchase of Esurance and Answer Financial

Allstate Insurance has completed its acquisition of Esurance and Answer Financial from White Mountains Insurance Group for a purchase price of about $1 billion, according to company officials. Allstate...Read More »

Travelers Launches New Insurance Discount Program in Four States

Travelers Insurance has joined the growing list of coverage providers offering discounts for low mileage through a program that uses an electronic device to track the number of miles put on a vehicle. The...Read More »

Allstate Insurance Forecasts $215 Million in Sept. Catastrophe Losses

Allstate Corp. reported Thursday that catastrophes in September cost it an estimated $215 million, pushing the insurer’s pretax catastrophe loss estimates to $1.08 billion for the third quarter of 2011. The...Read More »

Report: Insurers to Make Greater Use of Policyholders’ Social Data

With the use of Twitter, Facebook and other social networking sites increasing among all age groups, a new report predicts it will soon be standard practice for insurance companies to use what people post...Read More »

Progressive Third-Quarter Profit Down 42 Percent from 2010

Progressive announced Wednesday that its profits for the third quarter of 2011 were down 42 percent compared to the same period last year. The auto and home insurer, which suffered major losses...Read More »

Property/Casualty Insurance Cos. See 70 Percent Decline in Profits

Catastrophes in the first six months of 2011 caused profits to plummet for private U.S. property/casualty insurers, with net income after taxes falling to $4.8 billion from nearly four times...Read More »

MetLife’s Q3 Catastrophe Losses at Least Twice as High as Expected

MetLife is the latest insurer to report major losses from Hurricane Irene and other severe storms this year, with the coverage provider this week estimating $80 million to $100 million in after-tax...Read More »

Court Rules Allstate Does Not Have to Pay $32,000 Insurance Claim

A Florida appeals court ruled this week that one of the largest auto insurance companies in the nation, Allstate Insurance, does not have to pay for the $32,000 in damages sustained by one of...Read More »

United States Sees Record Number of Disaster Declarations in 2011

The federal government has already issued a record 86 disaster declarations this year, and with three months left in 2011 and hurricane season in full swing, insurance industry experts say that...Read More »