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You are here: Home / News / Allstate Reports Auto Physical Damage Loss Cost Increases Widespread Across U.S.

Allstate Reports Auto Physical Damage Loss Cost Increases Widespread Across U.S.

July 22, 2022 By CollisionWeek Editor

Implements Allstate brand auto insurance rate increases of approximately 8.3% since fourth quarter of 2021.

The Allstate Corporation (NYSE: ALL) estimated catastrophe losses for the month of June totaled $356 million or $281 million, after-tax. June catastrophe losses included 10 events, primarily wind and hail in the Midwest, estimated at $315 million, plus unfavorable reserve reestimates for prior period events. Catastrophe losses for the second quarter totaled $1.11 billion, pre-tax.

Inflationary trends continue to adversely impact current and prior report year claim severity and loss reserve estimates. As a result, unfavorable non-catastrophe prior year reserve reestimates totaled $408 million in

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Filed Under: News Tagged With: Allstate, Combined Ratio, Premiums

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