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ALL News Allstate Floridian Implements Agreement for Policy Transfers

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Allstate Floridian announced it will begin implementing an extension of its agreement with Royal Palm Insurance Company to offer Allstate Floridian customers property insurance coverage. This is the final step of announcements the company made in May 2006. Royal Palm began providing property insurance options through more than 1,000 Allstate agencies across Florida in November 2006. Under this extension, up to an additional 106,000 Allstate Floridian policyholders will be offered homeowners coverage from Royal Palm Insurance when their current Allstate Floridian policies expire beginning in mid-April.

“Florida is the nation’s most challenging property insurance market, and helping to bring new capital to the state will improve insurance availability in many communities,” said Phil Lawson, President of Allstate Floridian. “We are all in this property insurance crisis together – and together we have to find a resolution.“

As one of the largest home insurers in the state, Allstate Floridian is taking steps to help better protect its customers from the future threat of Katrina-like storms. The company has been working hard to help arrange options for affected customers to obtain property insurance coverage.

“We understand that our customers’ relationship with their Allstate agent is a large part of the reason they do business with us. We are pleased that our agents will have new solutions for the state and our current customers,” Lawson added. “Customers who accept an offer from Royal Palm will be able to continue to work with their current Allstate agency and may contact that agency for more information on their specific homeowner’s policy.”

Today’s announcement is the continuation of Allstate’s highly innovative effort launched in 2005 to continue to help make homeowners insurance more available in Florida. Allstate agents have been able to write new property insurance with other companies besides Allstate Floridian – giving consumers more choices. Under this strategy, these agents are currently helping almost twice as many homeowners find policies in the private market today than they were prior to the 2004 hurricanes. Allstate agencies, through expanded market companies, have written coverage for approximately 400,000 policyholders.

Allstate Insurance Company is also working with others to advance partnerships and public policy solutions that will provide long-term solutions to better prepare and protect Americans from catastrophe.

“We all have a role to play in this effort,” Lawson said. “We are encouraged that policymakers across the country are beginning to recognize that this is not just an insurance issue. Catastrophe risk presents a homeland security and national economic challenge. We believe that comprehensive, integrated reform is needed to create a stronger public-private partnership to help prepare and protect consumers in Florida and across the country.”

Allstate supports the leadership of policymakers that are calling for the creation of a comprehensive national catastrophe plan. A national catastrophe fund is a common sense way to go about securing Florida from devastating storms. It would be a fund designed to help all Americans in times of crisis – not just one state. The company also endorses the campaign to better prepare and protect America being led by ProtectingAmerica.org, a coalition working to raise awareness, educate the public and policymakers, and offer long-term solutions that will better prepare and protect America from major catastrophes in a sensible, cost effective fashion.

Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are separately capitalized subsidiaries of The Allstate Corporation and are the primary providers of personal lines residential property insurance in Florida for the Allstate group, through more than 1,000 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.