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Allstate: Allstate Foundation
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Santa Monica, CA — Allstate will try to convince the Department of Insurance to allow a 9.3% rate hike on its homeowners insurance customers at a hearing next week. The nonprofit Foundation for Taxpayer and Consumer Rights (FTCR) has challenged the proposal, under the rules of the voter approved insurance reform measure Proposition 103. The group will present evidence that Californians are already being gouged by Allstate and that rates should instead go down about 30%. If FTCR prevails, consumers will pay about $325 million less than the company wants, for an average savings of about $336 per Allstate homeowners insurance policyholder.
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The Allstate Foundation provides funds to non-profit organizations in the areas of homes and neighborhoods, auto and highway safety and personal safety and security. The foundation supports America's Promise -- The alliance for Youth by targeting grants to support at-risk youth in Florida. During 1999, the Foundation will allocate more than $300,000 in Florida grants and $8 million countrywide.
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The Allstate Foundation takes a unique stance on the issue of domestic violence by focusing its efforts on providing tools that help survivors move toward economic independence. Experts report that economic control is a tactic commonly used by abusers to prevent their victims from leaving abusive situations. Abusers often block access to money and/or other financial resources including credit cards, bank accounts or the ability to work outside the home.
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The Allstate Foundation conducted a national survey of teen driving attitudes and behaviors. In the survey, 47 percent of teens said their friends are a big influence on how they drive. Key findings included:
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The Foundation for Taxpayer and Consumer Rights (FTCR) has determined that Allstate is overcharging drivers over $300 million per year. The non-profit group, which has challenged Allstate's auto insurance rate plan, will testify this week that Allstate should be lowering its rates $300 million per year in accordance with state regulations. FTCR has ... challenged Allstate's proposed 12% increase in homeowners' premiums; that issue will be heard at a separate hearing in January 2008.
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"Our goal is to help survivors achieve an economic independence that they may not realize was possible," said Jennifer Kuhn, Domestic Violence Program Manager, The Allstate Foundation. "The Allstate Foundation is excited about the ClicktoEmpower campaign and is confident that through Allstate colleagues, friends, families and advocates we will reach our goal of $300,000."
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