Term Rates Up and Term Rates Down

[Questions]

Illinois Mutual has gotten more competitive on their term, still not a price leader.

Ohio National rates are going up 4-6%, they are still very competitive.

IL Mutual was recently downgraded to B++ from A-. Does this have much impact on the business you'll potentially place or recommend with IL Mutual?

 

[Mark]

IL Mutual was recently downgraded to B++ from A-. Does this have much impact on the business you'll potentially place or recommend with IL Mutual?

Rating is almost a joke these days.
AIG was A + right?
Even if a company like Shendoah goes under, what happens anyways?? Hmm... Okay, I won't talk about the Reserves...LOL

Ratings go up and down all the time...Companies also come and go these days.

I miss UPI, Cheasapeake, US Financial and the list just keeps going on.

The clients are buying you, more they the company that you are selling anyways.

ON the other hand, I would not put my clients with any company that I didn't believe in myself.

 

[Questions]

Rating is almost a joke these days.
AIG was A + right?
Even if a company like Shendoah goes under, what happens anyways?? Hmm... Okay, I won't talk about the Reserves...LOL

Ratings go up and down all the time...Companies also come and go these days.

I miss UPI, Cheasapeake, US Financial and the list just keeps going on.

The clients are buying you, more they the company that you are selling anyways.

ON the other hand, I would not put my clients with any company that I didn't believe in myself.

thanks for the feedback. Any fear from an E&O perspective?

disclaimer: I'm a newby insurance agent E&O underwriter...

 

[Mark]

thanks for the feedback. Any fear from an E&O perspective?

disclaimer: I'm a newby insurance agent E&O underwriter...

Some E and O companies will not cover companies with a low rating. Some won't even cover a "B" Rated company.

 

[Robert Barney]

Some E and O companies will not cover companies with a low rating. Some won't even cover a "B" Rated company.

I would be useful to see the actual wording from the E & O policy.

 

[Mark]

I have a feeling come Jan , a lot of companies will be raising the prices on their term products.

I think we will be playing with a whole new ball field soon. The companies on top now, might not be there soon.

 

[ticker_shuffle]

Yeah it's already a done deal, higher rates are coming. That means higher commisions in 2010. Works for me.

 

[Questions]

Yeah it's already a done deal, higher rates are coming. That means higher commisions in 2010. Works for me.

interesting...will that be enought to offset fewer sales due to higher rates?

 

[WinoBlues]

interesting...will that be enought to offset fewer sales due to higher rates?

Yes. The need will be the same January 1st as it was Dec 31st.
Improvise, Adapt, Overcome