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Market Chatter: Allstate and Five Other Insurers Face Senate Probe Into Claim Payment Practices

MT Newswires Live
Yesterday

Allstate (ALL) is among six major insurers facing a Senate probe into claim payment practices, the Wall Street Journal reported Monday, citing senators' letters.

Sen. Elizabeth Warren (D-Mass.) and Sen. Josh Hawley (R-Mo.) asked insurers to disclose claims closed without payment, including formal denials, the report said.

The senators, according to the report, also sought details on claim-related compensation for employees, contractors and adjusters.

Allstate did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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