Allstate Insurance Co. is reopening brick-and-mortar offices in Massachusetts after a quarter century of absence.
Back in 1987, the Northbrook, Ill.-headquartered Allstate closed its offices in Massachusetts and pulled out of the market, citing the state’s strict regulation of auto insurance rates.
But Massachusetts’ regulatory environment has been changing in recent years. In 2008, the state began implementing “managed competition” and took steps to deregulate private passenger auto insurance rates.
This move to managed competition has brought a number of insurers — including GEICO and Progressive — to the state’s auto insurance market. Allstate started to again offer private passenger auto insurance in the state in 2009 — through its agents from neighboring states (including Connecticut, New Hampshire and Rhode Island) as well as through an 800 number (1-800-Allstate).
Allstate Plans ‘Aggressive Ramp-Up’ in MassachusettsNow, with the opening of new offices, Allstate is expanding its business in earnest. The company says it is planning an “aggressive ramp-up” in coming years.
On Monday, Oct. 1, Allstate opened an office in North Andover, a suburb of Boston. It’s the company’s first brick-and-mortar office in Massachusetts in 25 years. At least two more offices are scheduled to open in the state before the end of the year.
“We just opened our first office in North Andover
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