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Allstate Announces Auto Rate Decrease

NORTHBROOK, Ill., Nov. 25 /PRNewswire/ -- On the heels of its reentry into the California property insurance market, Allstate Insurance Company is announcing its plans to file for a 7% average statewide auto insurance rate reduction.

The proposed change was filed with the state department of insurance on Friday, Nov. 22. Once approved, the changes would increase discounts for drivers with good driving records. These drivers can now accumulate discounts of 30 percent or more.

"This is a measure of our already stated commitment to the California insurance marketplace and to growing our business there," said Robert W. Gary, president - Allstate personal lines. "Several things have made this possible. First, the state economic picture has improved; and second, we've experienced favorable loss trends in most segments of our auto insurance business." Gary added "the Commissioner of Insurance and the state legislature have created a business climate favorable to California insurance consumers and the passage of Proposition 213 should have a positive impact on costs in the insurance system."

The rate reduction should take effect in late Jan. 1997.

This is the second auto rate reduction filed in California by Allstate in 1996. The first, a 2.7% average statewide rate decrease, took effect on July 29. Combined, that amounts to an average 10% average rate reduction for Allstate's California auto insurance customers this year.

Allstate Insurance Company is the nation's second largest personal lines insurance company, insuring one of every eight homes and automobiles in the country. The company provides insurance for more than 20 million customers and has approximately 15,000 full-time agents in the U.S. and Canada. Allstate is also a major life insurer.

SOURCE Allstate Insurance Company
 -0- 11/25/96

/CONTACT: Allstate Media Relations, 847-402-5600/

CO: Allstate Insurance Company ST: Illinois IN: INS AUT SU:

BS -- NYM154 -- 4002 11/25/96 18:29 EST
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Publication:PR Newswire
Date:Nov 25, 1996
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