OTHER NEWS - Sept. 20, 1991
Allstate Made Profit in New Jersey: State officials contended that departing Allstate Insurance Co. made $51 million on auto insurance in New Jersey last year, rejecting the company’s stated $72 million in losses. Allstate announced this week that it would stop writing property and casualty insurance in New Jersey because it was losing money on auto insurance in the state. Under a 1990 insurance reform law, companies that quit auto insurance must also drop other lines, except life insurance.
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