Allstate, Progressive settle lawsuit
Northbrook-based 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 trademarks.
Terms of the settlement were not released.
Allstate said the settlement will allow them to continue the 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.
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