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Allstate Tripled Its Profits — Then Raised Your Home Insurance Anyway
Allstate filed an 8.8% homeowners insurance rate hike on 300,000 Illinois customers — while posting $3.7 billion in profit in a single quarter, more than triple the year before. The mechanism isn't a mystery: in states without prior approval requirements, insurers file and the increase goes live. The profits flow to shareholders; the risk ...
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