Allstate Financial News

Insurers exposed to the California homeowners' market sold off sharply Friday as the devastation caused by the Los Angeles wildfires spread.

While prices for most goods have been falling throughout the year, inflation for a wide range of services remains high

India Inc is transforming its approach to rewarding employees as Gen Z enters the workforce, moving from traditional certificates to digital rewards like badges, notes, and points for instant gratification, ToI reported on August 8. Companies such as Epsilon India, Roche Information Solutions India, Merck India, Thryve Digital, and Allstate India are leading this change, integrating innovative methods to engage and motivate younger employees. A standout initiative is Epsilon India’s ‘passport’ called ‘Citizen of Youniverse’. «People, especially the younger lot, like to post everything on Instagram. The ‘passport’ will get stamped every time an employee takes part in any office gathering or event,» said Sonali De Sarker, the company’s HR head. Roche Information Solutions India has launched an internal marketplace called Applause, said the report (by Veena Mani). «Points can be redeemed to buy anything. It could be a pair of headphones or tickets,» explained Raja Jamalamadaka, the company’s MD.

Barrons Roundtable panel provides insight on the increased pressure on consumers.

jobs data. For the S&P 500, this is the worst start to a year since it began 2015 with a three-session skid, as tech-focused investors continued to take profits after a blistering rally in the final weeks of last year. Bets that the Federal Reserve could start reducing rates this year had driven much of the gains toward the end of 2023, though the latest minutes from the central bank's December policy meeting did not offer many clues on when the easing might commence. A tick-up in yields on longer-dated U.S. Treasuries — the benchmark 10-year note ended at 4% — prompted traders to move away from growth stocks toward other sectors. Financials was one of the few gainers among the S&P 500 sectors, underpinned by Allstate, which rose 2.4% to close at an all-time high after Morgan Stanley lifted its rating on the insurer to «overweight.» Other insurers also rose, including Hartford Financial Services Group, which gained 0.7% to its highest finish since 2008. Banks were strong performers ahead of the start of earnings season next week.

(Updated — January 4, 2024 12:10 PM EST)

WWE crushed its social media record over the Thanksgiving holiday weekend, with the return of wrestler CM Punk at Survivor Series garnering more than 71 million views across all of the sports entertainment company’s platforms

Efforts to rebuild a California town nearly wiped out by wildfire five years ago are being stymied by high home insurance costs

By Svea Herbst-Bayliss and David French

John Maczynski. John's illustrious 37-year tenure in the BPO realm has carved out a niche of excellence. Having collaborated with titans like Allstate, New York Life, Liberty Mutual, Assurant, and Blue Cross Blue Shield, he brings a repository of knowledge and strategic acumen to the table.

Farmers Insurance says it will lay off 11% of its workforce — about 2,400 employees — as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability

As Hawaii deals with the aftermath of devastating wildfires that have claimed more than 100 lives and up to 2,200 buildings, the economic fallout is just beginning to take root.

affordable housing stock by nearly two-thirds. Officials said they would give first preference to artists certified by the city. New Rochelle is emerging as a potential blueprint for overcoming the various political, financial and community obstacles that have made efforts to build multifamily housing in the suburbs an often insurmountable task.

Waves of severe thunderstorms in the U.S. during the first half of this year led to $34 billion in insured losses, an unprecedented level of financial damage in such a short time as climate change contributes to the frequency and severity of violent me...

Inflation comes in many forms, and pretty much all of them are affecting insurers right now. Auto and home insurer Progressive this week reported a big jump in its combined ratio, which measures underwriting losses and expenses as a percentage of premiums, to 100.4% in the second quarter. That is up from 95.6% a year earlier.