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Allstate Settles Charges It Factored Credit Histories Into Its Auto Rates.
Knight Ridder/Tribune Business News, March, 2004
By Lisa Munoz, The Orange County Register, Calif. Knight Ridder/Tribune Business News
Mar. 3--Allstate Corp. will pay $3 million to settle charges by the state Department of Insurance that it used consumers' negative credit histories to deny auto insurance to at least 1 million California drivers.
The state's suit against Allstate, initiated by a December 2001 consumer complaint, alleged that the insurer violated Proposition 103, enacted in 1998 to prohibit the use of credit-report information to determine auto-insurance rates.
Despite the settlement, Allstate denied wrongdoing.
"We followed the law," said company spokeswoman Lisa Wannamaker. "We did not use credit information to deny coverage or determine rates for good...
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