Allstate Extends Good Hands To Returning Military.NORTHBROOK, Ill. -- In recognition of their service to our country during this time of war, Allstate Insurance Company is beginning to relax its automobile insurance underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. for U.S. servicemen and women returning from military deployment Military deployment is the movement of armed forces and their logistical support infrastructure. In most of the world's navies, a deployment designates an extended period of duty at sea. in Iraq and Afghanistan. This means that auto insurance applications from U.S. military personnel whose auto insurance policies lapsed LEGACY, LAPSED. A legacy is said to be lapsed or extinguished, when the legatee dies before the testator, or before the condition upon which the legacy is given has been performed, or before the time at which it is directed to vest in interest has arrived. Bac. Ab. Legacy, E; Com. Dig. solely due to their active duty deployment in Iraq or Afghanistan will be treated as if auto insurance coverage had been continuous during their overseas deployment. "The brave men and women of the U.S. military serving in Iraq and Afghanistan deserve to be honored upon returning home," said Tom Wilson, president, Allstate Insurance Company. "Some U.S. servicemen and women allow their auto insurance coverage to lapse (language) LAPSE - A single assignment language for the Manchester dataflow machine. ["A Single Assignment Language for Data Flow Computing", J.R.W. Glauert, M.Sc Diss, Victoria U Manchester, 1978]. while on active duty overseas. Consequently, some returning military personnel could have difficulty re-entering the insurance market. We don't think that returning military should be penalized pe·nal·ize tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es 1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish. 2. upon returning from serving overseas, therefore we have chosen to relax our prior insurance requirement and extend the Good Hands(R) to our soldiers returning from Iraq and Afghanistan." Military personnel who were insured with Allstate prior to their deployment in Iraq or Afghanistan will have their policies reinstated to the date of deployment without any lapse in coverage. The policy change also applies to new Allstate customers, allowing servicemen and women that were not previously insured by Allstate to obtain coverage with the company provided that they had no need for liability insurance while deployed and they actively seek liability insurance coverage within 30 days of their return to the U.S. Allstate's policy changes apply to servicemen and women whose auto insurance has expired solely due to their military deployment overseas resulting from the war in Iraq and Afghanistan, even if the person was not serving in a war zone. Military personnel that are stationed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. or overseas not in connection with the current war in Iraq or Afghanistan, or had a need for liability coverage and let their insurance coverage lapse, do not qualify under the policy change. The change will be implemented as soon as regulatory and consequential con·se·quen·tial adj. 1. Following as an effect, result, or conclusion; consequent. 2. Having important consequences; significant: systems changes can be made. The Allstate Corporation (NYSE NYSE See: New York Stock Exchange :ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate(R)" slogan, Allstate provides insurance products to more than 16 million households and has approximately 12,900 exclusive agencies and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800 Allstate(R). Encompass(SM) and Deerbrook(R) Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group includes the businesses that provide life insurance, annuity, retirement, banking and investment products through distribution channels that include Allstate agents, independent agents, worksite, financial institutions and broker-dealers. |
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