Allstate is seeking to purchase reinsurance on a nationwide basis, according to an analyst's report of a management meeting the company held recently.
Bank of America property-casualty insurance analyst Brian Meredith quoted Allstate management officials as stating that the estimated extra cost of up to $2 billion could be passed along to policyholders in the form of rate increases.
Mr. Meredith wrote that Allstate is also busy with efforts to lobby government officials to establish catastrophe insurance pools on both a federal and state level.
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