Dedicated agents and claim employees did an exemplary job for customers after the hurricanes,” said Phil Lawson, Allstate Floridian President. In order to have the financial resources to help withstand future hurricane losses, Allstate Floridian has decided to purchase a two-year reinsurance program from private reinsurance companies to protect itself against more than $800 million of future losses in a year or $1.6 billion of losses over two years, in excess of any losses that may be covered by the Florida Hurricane Catastrophe Fund. Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company are independent subsidiaries of The Allstate Corporation and are the primary providers of personal lines property insurance in Florida for the Allstate group…..
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