A smaller U.S. auto insurer, American Family Insurance in Madison, Wisconsin, also said on Monday that it would return a total of $200 million to auto insurance customers beginning in mid-April. “There are very few silver linings out there, but auto insurance companies are definitely one of them,” said
- U.S. insurer Allstate Corp said on Monday that it would return more than $600 million in auto insurance premiums to customers as many Americans stay home and drive less due to"shelter-in-place" orders to curb the coronavirus outbreak.
“There are very few silver linings out there, but auto insurance companies are definitely one of them,” said Piper Sandler analyst Paul Newsome about coronavirus. Allstate's payback, which will apply to 18 million policies issued by Allstate and its Esurance and Encompass units, follows a data analysis by the insurer of 23 million cars that showed driving mileage being down between 35% and 50% in most states, Allstate Chief Executive Officer Tom Wilson said during a call with reporters on Monday.
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