The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate®" slogan, Allstate provides insurance products to more than 16 million households and has approximately 12,300 exclusive agents and financial specialists in the U.S. and Canada. Customers can access Allstate products and services through Allstate agents, or in select states at allstate.com and 1-800 Allstate®. EncompassSM and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. Allstate Financial Group includes the businesses that provide life and supplemental insurance, retirement, banking and investment products through distribution channels that include Allstate agents, independent agents, financial institutions and broker-dealers.
A better way to prepare and protect America from catastrophes
The 2006 hurricane season begins in June. It follows the record-setting hurricane seasons of 2004-05, in which eight major hurricanes struck the U.S. coast in a 15-month span. These storms caused unprecedented damage and impacted millions of Americans throughout the Gulf Coast and Florida. As devastating as these hurricanes were, there will be more – perhaps even worse – mega catastrophes in the future.
Consider these facts:
Many climate experts predict that hurricanes in the U.S. will grow more frequent and severe in the years ahead, with the potential to devastate coastal areas from Texas to the Northeast.
In addition, earthquakes pose an enormous and growing threat. In the United States about 5,000 quakes can be felt each year. Since 1900, earthquakes have occurred in 39 states and caused damage in all 50, according to the Insurance Information Institute.
The potential for widespread losses due to mega catastrophes is made worse by the combination of more people living in harm's way and the rising value of homes in disaster-prone areas. More than half of Americans now live in coastal counties, an increase of 33 million people since 1980; one-third of Americans live in areas exposed to major earthquake risk. When you factor in that about half of Americans' net worth is tied up in their homes, even retirements are at risk.
Fixing the country's catastrophe problem is larger than Allstate and even larger than the insurance industry. That's why Allstate is supporting a coalition called ProtectingAmerica.org.
ProtectingAmerica.org is working to raise awareness, educate the public and policymakers, and offer solutions that will better prepare and protect America from major catastrophes in a sensible, cost effective fashion. As a key to that effort, the coalition is working to enact federal and state legislation that provides for a comprehensive, integrated solution that includes more protection at a lower cost for consumers through a privately funded, government sponsored nonprofit catastrophe fund.
Allstate is a supporter of ProtectingAmerica.org because we believe the current system in America is not adequate to handle the devastating impact of mega catastrophes, particularly in an era of increasing risk.
America deserves to be better protected. That's Allstate's Stand.
For more information, visit: www.protectingamerica.org
