NU Online News Service, Feb. 10, 11:57 a.m. EST
An uptick in Allstate Corp.'s bodily injury claim frequency in auto insurance can largely be attributed to personal injury protection (PIP), no-fault laws in New York and Florida, but that alone did not drive a drop in fourth quarter profit for the insurer.
Allstate reported 2010 fourth quarter net income of $296 million, about a 43 percent drop from the same period in 2009, as higher catastrophe losses and the losses in standard auto added 7.6 points to Allstate's combined ratio.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
