NORTHBROOK, Ill., Sept. 14 /PRNewswire/ -- The Allstate Corporation
(NYSE: ALL) reported today that while it expects to pay auto, property,
commercial and life insurance claims from the Sept. 11, 2001 tragedy, based on
what is known today, this should not be a major financial event for Allstate.
Nonetheless, it is a major event for each and every customer affected.
"Stepping in after tragedy has struck and helping people deal with loss is
our business. This tragedy is particularly painful for its effect on us all
as Americans. We are prepared to do our job to the very best of our ability
paying the automobile, property and life insurance claims of our policyholders
in the hopes that at least some part of those affected lives will be cared
for," said chairman, president, and CEO Edward M. Liddy.
"The news reports about damages 'in the billions of dollars' for the
insurance industry refer mainly to the heavy commercial losses anticipated for
insurers of the physical structures of and near the World Trade Center, the
businesses within them, and the airplanes involved. Allstate does not write
large-risk commercial insurance. We write only small commercial policies,
primarily associated with commercial automobiles and fleets."
The Allstate Corporation (NYSE: 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
14 million households and has approximately 13,000 exclusive agents 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.
Encompass(SM) and Deerbrook(SM) Insurance brand property and casualty products
are sold exclusively through independent agents. Allstate Financial Group
includes the businesses that provide life insurance, retirement and investment
products, through Allstate agents, workplace marketing, independent agents,
banks and securities firms.
SOURCE Allstate Corporation
 back to top
Related links:
http://www.allstate.com
Company News On-Call:
http://www.prnewswire.com/comp/109885.html
CONTACT:
Michael Trevino, Media Relations,
+1-847-402-5600, or Robert Block, or Phil Dorn, Investor
Relations, +1-847-402-2800, all of Allstate Corporation
|
