May 9, 2001 |
Allstate Corp., the second-largest home and car insurer in the U.S., said Tuesday that it has bought auto repair company Sterling Collision Centers Inc. to make car repairs and the processing of insurance claims more efficient. Terms weren't disclosed. Allstate and other auto and home insurers are facing rising claims at a time when competition makes it hard to raise prices. Analysts say many companies are trying to reduce costs by teaming up with preferred car repair services.