Hikes Archives - Comprehensive Car Insurance

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Allstate to Increase Magnitude of Auto Rate Hikes in 2022

Allstate stated it's elevating auto insurance coverage charges extra attributable to continued upticks in bodily harm and bodily harm severity. The private property insurer stated in an announcement on April 21 that first quarter unfavorable non-catastrophe prior-year reserves re-estimates had been about $160 million, reflecting the influence of “speedy will increase in loss prices because the second quarter of 2021.” “Given the continued loss-cost impacts ...

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Allstate Outlines ‘Surgical’ Auto Rate Hikes to Combat Inflation

Charge will increase in Allstate’s auto insurance coverage enterprise are in integral a part of the insurer’s total plan to deal with the influence of inflation. Wednesday throughout a convention name with analysts to debate first-quarter earnings, CEO Tom Wilson stated Allstate’s technique dubbed “Transformative Progress” begins with “aggressively elevating costs” for auto insurance coverage. “We’re doing this surgically and elevating costs extra for brand ...

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