Allstate Applauds House Passage of Landmark Homeowners' Defense Act.H.R. 3355 Prepares and Protects America America [for Amerigo Vespucci], the lands of the Western Hemisphere—North America, Central (or Middle) America, and South America. The world map published in 1507 by Martin Waldseemüller is the first known cartographic use of the name. from Major Natural Catastrophes NORTHBROOK Northbrook, village (1990 pop. 32,308), Cook co., NE Ill., a suburb of Chicago; settled 1836. It was incorporated as Shermerville in 1901 and was reincorporated as Northbrook in 1923. , Ill. -- Allstate This article is about the American insurance company. For the line of automobiles, see Allstate (automobile). The Allstate Corporation NYSE: ALL is the largest publicly held personal lines insurer in the United States. Insurance Company today lauded U.S. House passage of a bill designed to prepare and protect communities ahead of major natural catastrophes. The Homeowners' Defense Act of 2007 (H.R. 3355), approved Thursday by a wide margin, offers a comprehensive solution to communities hit by catastrophic events such as massive hurricanes, earthquakes, and wildfires. "We applaud this first step in creating a public and private partnership to properly address the devastation caused by large natural disasters. The current system was created before the recent warming of the oceans and is no longer adequate to deal with the increased frequency and devastation caused by hurricanes. This bill will help the 60% of Americans who live in danger of hurricanes or earthquakes destroying their homes, without requiring major support from low risk areas," said Tom Wilson, Allstate's chief executive officer, said. "We are proud to be a part of ProtectingAmerica.org, which has more than 300 members that have been actively advocating solutions to this problem." The Homeowners' Defense Act establishes a national catastrophe Catastrophe, from the Greek Καταστροφή (katastrephein), literally means "to turn" (strephein) "downwards" (kata-). program to increase access to insurance and protect consumers. The bill provides for federal loans and a financial backstop to state catastrophe funds that will help provide more protection at a lower cost to consumers. This encourages states to properly structure insurance regulations and pricing to accurately reflect risk. If losses exceed a fund's financial capacity, then the role of the federal government would be determined in advance of a loss. "Passage of this landmark legislation provides additional momentum needed to bring this concept to reality," Wilson said. "Now that a companion bill has been introduced, we urge the Senate immediately to begin to take the additional steps needed to address this top national priority." The Allstate Corporation (NYSE NYSE See: New York Stock Exchange :ALL) is the nation's largest publicly held personal lines insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. . Widely known through the "You're In Good Hands With Allstate[R]" slogan A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. Slogans vary from the written and the visual to the chanted and the vulgar. , Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,600 exclusive agencies and financial representatives in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at allstate.com and 1-800 Allstate[R]. Encompass ENCOMPASS Enhanced Consequence Management Planning and Support System (DARPA) [R] and Deerbrook[R] Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. , banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers. |
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