U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and reduced claims. …
More insurers are coming forward every day with discounts, extended coverage and relaxed payment terms for insureds affected by shelter-in-place and other conditions required during the coronavirus crisis. Progressive Insurance announced it is providing approximately $1 billion to its drivers …
Allstate is returning savings resulting from shelter-in-place orders back to consumers. This comes as the company cited an unprecedented decline in driving due to shelter-in-place orders, which translates into fewer accidents. Nationally, the company plans to return more than $600 …
More auto insureds and small businesses are getting a break on their insurance premiums to help them through the coronavirus crisis. Auto insurer GEICO said it will give back approximately $2.5 billion in the form of a 15 percent credit …
Madison, Wisconsin-based American Family Insurance says it will return approximately $200 million to its auto insurance customers as the COVID-19 pandemic has dramatically altered driving habits and created financial uncertainty for individuals and families across the country The premium relief …
Insurance carriers are continuing to step forward with offers of help for customers and communities affected by the coronavirus crisis. Allstate announced that its Allstate, Esurance and Encompass personal auto insurance customers will receive a Shelter-in-Place Payback, a premium credit …
Ratings firm AM Best said it is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and …
Allstate Corp. struck a deal with Ford Motor Co. that will allow some of the automaker’s customers to share data with the insurer for its program that tracks mileage. The majority of Ford and Lincoln 2020 model-year vehicles with embedded …
For the second time in a year, a federal judge rejected a plaintiff attorney’s argument that an insurance carrier acted in bad faith by using the Mitchell Decision Point program when calculating the value of a Colorado policyholder’s underinsured motorist …
The Texas Windstorm Insurance Association board of directors voted today to assess member insurance companies $90 million based on losses from Hurricane Harvey and voted to defer further consideration of action regarding TWIA insurance rates on residential and commercial policies …
