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00:02Allstate was sued by Oklahoma on Tuesday over claims it underpaid or denied wind and hailstorm
00:08damage claims for several years, according to Reuters. The state accused Allstate of
00:13secretly requiring restrictive standards since at least 2020 to lower indemnity payments and
00:18boost profits. Oklahoma also accused the insurer of removing licensed adjusters' authority to
00:24approve storm damage coverage and replacing them with unlicensed picture takers and reviewers who
00:29routinely denied coverage. Allstate did not immediately respond to requests for comment.
00:35Oklahoma's location in Tornado Alley makes wind and storm damage a recurring insurance risk in
00:40the state. The state said Allstate held an 8.14% share of the state's property and casualty insurance
00:47market in 2025, with $219.1 million in premiums written. The lawsuit seeks unspecified damages
00:54and civil fines under Oklahoma Consumer Protection and anti-racketeering laws.
00:59For all things money, visit Benzinga.com.
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