01/28/2008 - ST. PETERSBURG, Fla,.
In a series of print advertisements in newspapers across Florida beginning tomorrow, Allstate Floridian Insurance Company is launching a major campaign aimed at "educating the public about how Florida''s hurricane problem affects the property insurance market, what''s been done about it and, most importantly, what real, actionable steps can be taken to help consumers," said Phil Lawson, President, Allstate Floridian. "There is so much misunderstanding out there," continued Lawson, "we felt an obligation to refocus the debate back onto the facts."
Several major candidates for president have already embraced the need for a national catastrophe fund to help Florida and other states better deal with catastrophes. "Leaders here in Florida and national leaders across the country are increasingly coming to the conclusion that Florida''s homeowner insurance crisis simply can''t be ignored," said Lawson. "Consumers want a real solution and increasingly national leaders recognize it requires leadership from all levels of government and the industry." Allstate Floridian''s consumer education campaign begins Tuesday with a full-page advertisement that "tells the story of how we got here and what it takes to move on," said Lawson. Among the key points in the advertisement:
* The challenges ahead. Scientists agree that Florida is at an increased risk for large-scale storms.
* The stakes are real. According to the Insurance Information Institute, a large-scale, Category 5 storm that hit Miami could cost over $50 billion. Such a large scale financial challenge could overwhelm even the statecreated homeowner insurance carrier, now the largest writer in the state.
* The financial facts can not be ignored. Allstate Floridian lost nearly $1 billion in the past four years providing homeowner insurance in Florida, yet some are publicly demanding we lower rates without any fundamental changes to the market - an unworkable solution.
* A real solution includes a comprehensive national catastrophe plan, adequately funding Citizens Property Insurance Corporation reserves and the Florida Hurricane Catastrophe Fund to handle the impact of a major storm, allowing insurance companies to charge appropriate premiums for those in high risk areas, and increasing competition by allowing a fair rate of return for insurance companies.
"There are solutions. They require a clear eyed view of why Florida faces these challenges and what needs to be done. No amount of wishful thinking will change weather patterns. The responsible step is to plan now and be ready for the challenges ahead. It''s good that national leaders are beginning to see the wisdom of this. Now it''s time to make it a reality," Lawson concluded.
Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are independent subsidiaries of The Allstate Corporation and are the primary providers of personal lines property insurance in Florida for the Allstate group. Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company sell homeowners, condominium owners, renters and mobile home insurance protection through nearly 900 agencies in the state of Florida. Property insurance policies sold by Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are not underwritten or reinsured by any other company in the Allstate group.
Contact: Adam Shores
727.573.6953
* The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer.
* It is widely known through the "You're In Good Hands With Allstate®" slogan.
* Allstate provides insurance products to more than 17 million households.
* Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800-ALLSTATE®.
* EncompassSM Insurance brand property and casualty products are sold exclusively through independent agents.
* Allstate Financial Group provides life and supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies and independent agencies.
* Allstate was founded in 1931 as part of Sears, Roebuck & Co.
* Allstate became a publicly traded company in 1993. At the time, its initial public offering was the largest in U.S. history.
* On June 30, 1995, it became a totally independent company after Sears divested its remaining shares to Sears stockholders.
* Allstate, based in Northbrook, Illinois, is one of the nation's leading insurers in urban areas and has supported auto and highway safety reforms, including seat belts, air bags, and teen driver education.
* The company has won numerous awards over the years for its philanthropic, employee volunteerism and diversity efforts.
In a series of print advertisements in newspapers across Florida beginning tomorrow, Allstate Floridian Insurance Company is launching a major campaign aimed at "educating the public about how Florida''s hurricane problem affects the property insurance market, what''s been done about it and, most importantly, what real, actionable steps can be taken to help consumers," said Phil Lawson, President, Allstate Floridian. "There is so much misunderstanding out there," continued Lawson, "we felt an obligation to refocus the debate back onto the facts."
Several major candidates for president have already embraced the need for a national catastrophe fund to help Florida and other states better deal with catastrophes. "Leaders here in Florida and national leaders across the country are increasingly coming to the conclusion that Florida''s homeowner insurance crisis simply can''t be ignored," said Lawson. "Consumers want a real solution and increasingly national leaders recognize it requires leadership from all levels of government and the industry." Allstate Floridian''s consumer education campaign begins Tuesday with a full-page advertisement that "tells the story of how we got here and what it takes to move on," said Lawson. Among the key points in the advertisement:
* The challenges ahead. Scientists agree that Florida is at an increased risk for large-scale storms.
* The stakes are real. According to the Insurance Information Institute, a large-scale, Category 5 storm that hit Miami could cost over $50 billion. Such a large scale financial challenge could overwhelm even the statecreated homeowner insurance carrier, now the largest writer in the state.
* The financial facts can not be ignored. Allstate Floridian lost nearly $1 billion in the past four years providing homeowner insurance in Florida, yet some are publicly demanding we lower rates without any fundamental changes to the market - an unworkable solution.
* A real solution includes a comprehensive national catastrophe plan, adequately funding Citizens Property Insurance Corporation reserves and the Florida Hurricane Catastrophe Fund to handle the impact of a major storm, allowing insurance companies to charge appropriate premiums for those in high risk areas, and increasing competition by allowing a fair rate of return for insurance companies.
"There are solutions. They require a clear eyed view of why Florida faces these challenges and what needs to be done. No amount of wishful thinking will change weather patterns. The responsible step is to plan now and be ready for the challenges ahead. It''s good that national leaders are beginning to see the wisdom of this. Now it''s time to make it a reality," Lawson concluded.
Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are independent subsidiaries of The Allstate Corporation and are the primary providers of personal lines property insurance in Florida for the Allstate group. Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company sell homeowners, condominium owners, renters and mobile home insurance protection through nearly 900 agencies in the state of Florida. Property insurance policies sold by Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are not underwritten or reinsured by any other company in the Allstate group.
Contact: Adam Shores
727.573.6953
* The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer.
* It is widely known through the "You're In Good Hands With Allstate®" slogan.
* Allstate provides insurance products to more than 17 million households.
* Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800-ALLSTATE®.
* EncompassSM Insurance brand property and casualty products are sold exclusively through independent agents.
* Allstate Financial Group provides life and supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies and independent agencies.
* Allstate was founded in 1931 as part of Sears, Roebuck & Co.
* Allstate became a publicly traded company in 1993. At the time, its initial public offering was the largest in U.S. history.
* On June 30, 1995, it became a totally independent company after Sears divested its remaining shares to Sears stockholders.
* Allstate, based in Northbrook, Illinois, is one of the nation's leading insurers in urban areas and has supported auto and highway safety reforms, including seat belts, air bags, and teen driver education.
* The company has won numerous awards over the years for its philanthropic, employee volunteerism and diversity efforts.
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