Allstate has announced details of its new reinsurance program to provide $2 billion in coverage for various lines against named storms, earthquakes and other catastrophes.
Allstate Corporation chairman Edward Liddy said the measures were aimed at improving returns for risks in catastrophe-prone areas.
The Northbrook, Ill.-based auto and home insurer said the new nationwide reinsurance agreements will provide $2 billion in coverage in excess of $2 billion of retained losses from named storms, earthquakes and fires following earthquakes.
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