Company Overview of Allstate Insurance Company
Allstate Insurance Company offers home security, business, supplemental health, long-term care, boat, flood, identity theft expenses, and motor home insurance products. It also provides financial products, such as annuities, education savings, IRAs, and mutual funds; emergency roadside assistance; and checking and savings accounts, money market accounts, and certificates of deposit. In addition, the company offers life insurance products. It provides its products and services through a network of agencies, financial specialists, brokers, bank representatives, insurance agents, and financial advisors in the United States and Canada. The company is based in Northbrook, Illinois with an additio...
2775 Sanders Road
Northbrook, IL 60062
Key Executives for Allstate Insurance Company
Chief Financial Officer and Executive Vice President
President of Allstate Protection South Regions
President of Encompass Insurance
Compensation as of Fiscal Year 2014.
Allstate Insurance Company Key Developments
National Railroad Passenger Corp. Files a Lawsuit Against 22 Separate Insurance Companies
Sep 1 14
National Railroad Passenger Corp., also known as Amtrak, filed a lawsuit against 22 separate insurance companies, alleging they failed to provide coverage for environmental claims spanning from 1972 through 1986. According to the lawsuit, Amtrak purchased insurance policies from the defendant insurers during that time. Amtrak subsequently had to defend property damage and bodily injury claims attributable to environmental pollutants, including asbestos. Amtrak allegedly spent more than $40 million on the property damage claims and $92 million on the bodily injury claims. The defendant insurers include Allstate Insurance Co., Lexington Insurance Co., Nationwide Mutual Insurance Co. and Evanston Insurance Co., among others.
Sources Say QBE May Revive Asset Sale Plan
Jul 30 14
QBE Insurance Group Ltd. (ASX:QBE) is planning to sell assets. Sources stated that the company is expected to resume the sales process for its $1 billion-plus mid-market US insurance business through Merrill Lynch around September 2014, after it was recently put on hold. Several industry groups are expected to bid for the business when it is back up for sale. According to the news report, it is understood that firms looking to increase market share or move into new geographies are among those most likely to show interest. Sources added that potential suitors may include The Chubb Corporation (NYSE:CB), ACE INA International Holdings, Ltd., Allstate Insurance Company, American International Group, Inc. (NYSE:AIG), The Hartford Financial Services Group, Inc. (NYSE:HIG) (Hartford Insurance), and Zurich, sources said. Sources have said the company could sell Winterthur for the $1.2 billion. According to the news report, QBE declined to comment.
The U.S. District Court for the Northern District of California Rules Allstate Insurance Did Not Breach Duty to Defend Homeowners Against Neighbors' Claims
Jul 14 14
The U.S. District Court for the Northern District of California held a homeowners' insurer did not breach any duty to defend neighbors' breach of contract or bad faith claims against insureds where the claims did not constitute an 'occurrence,' as defined in the insurance policy. Joyce and Edward Kennedy sued their neighbors, Jenny and Mark Daniels. The Kennedys and the Daniels owned adjacent property lots in Santa Cruz, Cal. The Kennedys' complaint alleged a retaining wall and trees on the Kennedys' property constituted a private nuisance. The complaint further alleged the Daniels acted unreasonably by failing to remedy those hazards. The Daniels conceded the wall needed to be replaced and a tree needed to be removed. They testified they did not like the Kennedys' approach and therefore 'decided not to do anything in response' to the Kennedys' request to repair the wall and remove the trees. The trial court ruled in favor of the Kennedys, declaring the retaining wall to be a nuisance. The Daniels tendered defense of the Kennedys' action to their homeowners' insurer, Allstate Insurance Co. Allstate denied coverage on the grounds that the insurance policy did not cover the allegations of the underlying complaint because the policy only covered 'accidents' resulting in 'bodily injury' or 'property damage,' and the policy excluded coverage for damage to property owned or used by an insured. The Daniels sued Allstate for breach of written contract and breach of implied covenant of good faith and fair dealing. They claimed Allstate had a duty to defend them in the underlying litigation. Allstate moved to dismiss, contending coverage was properly denied because the underlying complaint against the Daniels did not allege 'accidental' conduct to satisfy the policy's definition of 'occurrence.' The district court granted Allstate's motion. Because an accident must be unexpected and nothing in the facts alleged by the Daniels suggested Allstate should have been alerted to the unexpectedness of the deterioration and resulting nuisance to the Kennedys, the Daniels had not adequately alleged Allstate had a duty to defend them in the underlying litigation. Accordingly, the court dismissed all claims alleging breach of contract or the implied covenant of good faith and fair dealing stemming from Allstate's failure to defend.
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