NORTHBROOK, Ill., Oct. 3, 2011 /PRNewswire/ -- Allstate Insurance Company, Allstate Fire & Casualty Insurance Company and Progressive Casualty Insurance Company have agreed to settle litigation involving usage-based insurance and online insurance policy-servicing patents and certain trademarks. The parties have also agreed to settle related counterclaims.
Allstate is pleased to have reached a resolution with Progressive and will continue to introduce Allstate's Drive Wise® telematics usage-based insurance program. As part of the settlement, the parties have cross-licensed certain patent rights to each other, including a license flowing from Allstate to Progressive regarding a usage-based insurance patent. Both parties have also agreed to enter into a trademark coexistence agreement involving the Drive® and Drive Wise® trademarks.
Other terms of the settlement remain subject to the parties' agreement to confidentiality.
Although confident in the merits of its case, Allstate is pleased to be able to leverage its patent portfolio in this settlement by providing a license to Progressive and to eliminate the distraction from this litigation.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer known for its "You're In Good Hands With Allstate®" slogan. Now celebrating its 80th anniversary as an insurer, Allstate is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.
SOURCE Allstate Insurance Company