NU Online News Service, Feb. 10, 11:57 a.m. EST
An uptick in Allstate Corp.'s bodily injury claim frequency in auto insurance can largely be attributed to personal injury protection (PIP), no-fault laws in New York and Florida, but that alone did not drive a drop in fourth quarter profit for the insurer.
Allstate reported 2010 fourth quarter net income of $296 million, about a 43 percent drop from the same period in 2009, as higher catastrophe losses and the losses in standard auto added 7.6 points to Allstate's combined ratio.
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