New York CNN —
Allstate Insurance says it will pay out $1.1 billion in claims caused by the wildfires that swept through Southern California in January.
While the expected payout is significant, Allstate said Wednesday it was able to limit its losses partly by pulling back from the California market. Many insurers, including Allstate, have been canceling homeowners’ policies in many areas of California due to growing threat of wildfires — leaving many homeowners with more expensive and often limited alternatives, or with no insurance coverage at all.
Allstate’s liability is a small fraction of
→ Continue reading at CNN - Business News
