Georgia Insurance Commissioner warns of 25% Allstate rate increase coming in September.
The Allstate Corporation (NYSE: ALL) provided an update on catastrophe losses and its ongoing program to raise auto insurance rates to address rising costs during July.
“Allstate will continue to implement significant rate actions in the second half of 2022 in response to inflationary increases to auto insurance severities. During the month of July, the Allstate brand implemented rate increases of 8.9% across 6 locations, resulting in total Allstate brand insurance premium impact of 1.0%. We have implemented 64 rate increases averaging approximately 9.0% across 51 locations since