In addition to our volunteer and financial support of philanthropic efforts, Allstate works to support our customers and communities through our advocacy work on policy issues. Here are some of the areas where Allstate has shown leadership in influencing policy in the best interest of our communities.
Since 2008, an average of 3,400 teens have been killed in car crashes in the United States annually. Graduated driver licensing (GDL) laws require new young drivers to gain experience under supervised and less risky conditions so they can become responsible and safe drivers. Research has shown that these requirements can reduce fatalities by up to 40 percent.
Allstate has long been a passionate advocate for efforts to prevent these fatalities. We were a lead supporter of the Safe Teen and Novice Driver Uniform Protection (STANDUP) Act, a federal bill designed to help save lives by encouraging the adoption of optimal graduated driver licensing standards for individual states to implement in their own teen driving laws. Key elements of the STANDUP Act were signed into law in the summer of 2012, with accompanying incentive grants to empower states to strengthen their laws. Our advocacy now turns to the states, where we are diligently working to encourage them to ensure that state laws contain strong GDL provisions.
We continue to advocate for a comprehensive, integrated legislative solution that will better prepare and protect America from natural catastrophes. In 2012, we:
Allstate is a proud supporter and founding member of ProtectingAmerica.org, a coalition of private companies, nonprofit organizations and government agencies at the local, state and federal level that are working to develop long-term solutions to better prepare communities and our nation so that they can recover from future natural catastrophes. ProtectingAmerica.org works to educate the public and policymakers about the risks Americans face from disasters—like recent wildfires, tornadoes and hurricanes—which are certain to strike again.
Fewer than five months after Sandy, the second-costliest storm in U.S. history, a national coalition headed by two federal officials who oversaw homeland security and natural disaster emergency management during the country’s largest catastrophes agreed that a newly proposed House measure would significantly improve catastrophe protection for homeowners. The Homeowners and Taxpayers Protection Act would establish a privately funded national catastrophe program that will enable private market insurers to provide increased and more affordable homeowners coverage.
Looking ahead, the coalition is working with the Federal Emergency Management Agency (FEMA) and others to consider potential options to increase private market involvement in protecting against flood risk.
Another area of our continued advocacy addresses the modernization of the insurance regulatory system. The U.S. insurance industry operates under a different set of regulations in each state (plus the District of Columbia). This makes it difficult and expensive to develop innovative products for customers. Allstate believes there is an opportunity to modernize the insurance regulatory system with more uniformity and consistency, and for government to adopt regulatory best practices. Regulatory modernization will drive unnecessary costs out of the system, unleash more innovation, and generate increased competition in the marketplace with more choices for consumers. In 2012, Allstate met with and provided extensive information to the new Federal Insurance Office on ways to improve and modernize the insurance regulatory system. Allstate also worked with regulators and other policymakers in numerous states to address specific concerns and to offer solutions applicable to their states.
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