California cuts Allstate auto insurance by 15.9 pct

Newswire

SAN FRANCISCO, March 18 (Reuters) - Allstate Corp's automobile insurance units in California must lower their rates by 15.9 percent effective April 14, marking an estimated $244.67 million in annual savings for consumers, the state's insurance commissioner said on Tuesday. "This reduction reaffirms my commitment to ensuring that excessive rates are not charged to California consumers. At the same time, the rate reduction is fair and reasonable for the company," Insurance Commissioner Steve ...

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