Allstate Insurance Co., Allstate Fire & Casualty Insurance Co. and Progressive Casualty Insurance Co. announced they reached a settlement agreement over litigation involving technology patents and questions of trademark infringement.
In the litigation, Progressive alleged that Allstate infringed on its usage-based car insurance and online insurance policy-servicing technology. Progressive also alleged trademark infringement.
The companies entered into a trademark co-existence agreement involving the Drive and DriveWise trademarks. They also cross-licensed certain patent rights with each other.
Additional settlement details will remain confidential.
"This was about protecting and leveraging Progressive's investment of more than 15 years in usage-based insurance research, development, testing and piloting," Chuck Jarrett, Progressive's chief legal officer, said in a press statement. "We have always said we are willing to license our intellectual property rights to others and that we will enforce those rights when necessary."
Allstate said in its press statement: "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."