ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, August 15, 1996 TAG: 9608150039
SECTION: BUSINESS PAGE: B-7 EDITION: METRO
DATELINE: CHICAGO
The Allstate Corp. says it has relaxed its standards for minority city dwellers seeking comprehensive homeowner insurance policies, but a fair housing group said Wednesday it sees no evidence changes have occurred.
The insurer said it began in April by removing restrictions on providing policies to homes more than 40 years old or worth less than $40,000. It eliminated a rule that limits policy payoffs to 150 percent of a home's market value, something that might not cover the cost of replacing the building. In addition, it is increasing inspection requirements for homes being considered for coverage.
The company is based in the Chicago suburb of Northbrook and has about 800 employees working at an operations center in Roanoke County.
Allstate's policy change comes to light less than a month after industry leader State Farm Insurance announced it revised its urban guidelines to settle a discrimination complaint filed with the U.S. Department of Housing and Urban Development.
Allstate spokesman Al Orendorff insisted the changes were not directly linked to such complaints.
``Frankly, we found out that there's good business out there that we can access. We're just plunging ahead, doing what we normally do,'' he said.
- Associated Press
LENGTH: Short : 34 linesby CNB