- 5,290
Safeco to Terminate 1/2 of CA Agents - Lara has to go
- Thread starter AZDave
- Start date
Al3x Lee
Guru
- 952
I'm glad I can always count on you guys to keep the threads on topic. I can see how this conversation directly correlates to Safeco's contracts with agents.
Can you guys help me find the flux capacitor?
- 5,290
I like how you let out a big fart about 6 seconds in. Classy.
Al3x Lee
Guru
- 952
I was hoping you wouldn't notice
, and that's definitely what it was, not the old rubber on the door.
National Agency
New Member
- 2
Yes, part of this painful process is that if you lose your appointment and you own the book of business, all associated policies to the producer code will begin a non-renewal process shortly after the formal notification of termination of the agency. For those that have worked for 20 years building a profitable book of business, especially smaller agencies who were rightfully sought after during the recruitment process, one or two claims could cause a short term high loss ratio and now to see a major carrier taking action against the very process which the carrier was proud of is devastating. It is their right to terminate the contract with proper advance notice; but in the midst of a state like CA where there may be few or no options for clients, this is really bad. I'm not sure if whether the Department of Insurance would see the pain and step in to make an emergency measure to save these agencies and thousands of associated clients/homeowners who will be put out in the cold (perhaps literally). Any thoughts would be appreciated and helpful to others on this forum.
I have been an agent for 51 years. Property and Casualty insurance companies are hypocrites. Yes, I said it. I contracted with Safeco in 1999. At first they were competitive and I was building a good book with them and always a loss ratio between 35% to 38%. They became uncompetitive and my volume went down. Later they became competitive again my my book started rising again. Then they completely fell apart. Their rates were so high you couldn't sell their coverage and if you didn't move your renewals you would lose them. I found out that Safeco hadn't had a personal lines product manager for 2 years. When Liberty Biberty bought them I thought this was going to be great because Liberty had the money to put into Safeco and get them going. Not. Their rates became the highest in Georgia. My volume went down to $60,000 but I had a good loss ratio every year. Finally, last year they terminated my contract for lack of premium volume. Now, here is why I say companies are hypocrites. They can't provide a rate that is competitive so they punish you for their incompetence and cancel your contract. Hypocrites!
- 1,481
What good is a DeLorean without a Flux capacitor?
- 5,290
That's not a big deal. You can always get one installed aftermarket. My mechanic offered to put one in as smoking deal of $700 with labor. I think the reason I was getting such a good deal, is because he was already replacing my muffler bearing.
Al3x Lee
Guru
- 952
Well the flux capacitor is useless without the nuclear reactor needed to generate the 1.21 gigawatts of electricity that you need for time travel. That's only about $796,543,991 extra
- 1,481
I pretty sure you can just install a ninja food mixer on top for real cheap.
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