Passed the initial screening and now waiting to be contacted by the "Sales Leader" anyone have in input from here on. Living on the coast of South Carolina I understand no new agents are being placed in coastal counties. All new offices are going inland, suggested to me to overlook any agencies for sale on coast due to restrictions on writing policies and thus being able to grow the book.
So far it seems to easy. Any one have any experience getting started with AllState
I have a couple of friends who have started with Allstate as EF's and really enjoy it. Does anyone know anything about Nationwide's 1717 Capital Management Program?
Along similar lines, does anyone know where a concerned P&C agent could get a list of names of unfortunate homeowners who have Allstate HO insurance in coastal states who would thus be in urgent need of help getting their rates down ?
If you find such a list, I'd love to know. Outside of getting it from Allstate (which you won't), I doubt it exists. Unlike loans which are public record, insurance companies don't seem to publish this info, to prevent the very reason you are asking.
That said, you can always target certain areas and call or mail, looking for Allstate clients. It's a bit more legwork though.
On the 16th the Insurance Commish Of Florida Suspended Allstates Authority. That means that they can no longer write new biz. until they bow to his demands.
Yep, they originally promised to reduce rates, then came back with an increase.
It's a shame. It makes the whole industry look bad. I have a buddy who just opened an Allstate office about 9 months ago. He's poured 10s of 1000s into it. Now he can't write a policy. I'm smelling class-action suit.
Originally Posted by NWInsurance
On the 16th the Insurance Commish Of Florida Suspended Allstates Authority. That means that they can no longer write new biz. until they bow to his demands.
Lots of negative rumors going on about those guys, I heard they will be pulling out of the homeowners insurance market in California...supposed to be hush hush but I have my contacts...we'll see.
Lots of negative rumors going on about those guys, I heard they will be pulling out of the homeowners insurance market in California...supposed to be hush hush but I have my contacts...we'll see.
Not to hush-hush, it happened last year. Well, at least they won't write any new homeowners policies. Are you saying they are going to non-renew existing policies?
Allstate, like many other insurance companies before them, and many to come, have ran into reserve issues limiting how much growth they can have. Not uncommon, nothing by itself to worry about. It does make it very, very tough on their agents though.
Not to hush-hush, it happened last year. Well, at least they won't write any new homeowners policies. Are you saying they are going to non-renew existing policies?
Allstate, like many other insurance companies before them, and many to come, have ran into reserve issues limiting how much growth they can have. Not uncommon, nothing by itself to worry about. It does make it very, very tough on their agents though.
Dan
Maybe not non renew policies but hike the rates up so high that it'll leave homeowners no choice but to either swallow the big hikes or change companies. Allstate is hoping the customers will just change companies. This is according to an ex allstate agency owner/trainer with ties to the company.
I have heard rumors of a lot of Allstate agencies in TX becoming "up for sale" lately, but not because of products being pulled. I think the model is to build the business up and sell it -possibly? I dunno, you guys tell me.
I have heard rumors of a lot of Allstate agencies in TX becoming "up for sale" lately, but not because of products being pulled. I think the model is to build the business up and sell it -possibly? I dunno, you guys tell me.
There does appear to be quite a few Allstate Agencies for sale. Is there any certain reason that is the case?
For what it is worth, we had allstate for homeowners, auto and a life policy in VA, and moved to Myrtle Beach SC 6 years ago. Never had a problem, until last fall when our homeowners policy TRIPLED. No joking, talked to the agent who we knew well and he told us they are not writing anywhere near the beach for homeowners, and he knew every client would cancel on the spot. We ended up getting a broker who got us Statewide, and of course we switched our auto, etc to other carriers.
Sad thing is our old Allstate agent closed up his shop early this spring. No one took it over that I am aware of. Can't imagine losing so much clients at once due to something out of your control.
Allstate I believe is #2 in the country (probably written premium). Obviously if you have lots of agencies a certain percentage is gonna be going into retirement and selling. I wouldn't think much of it except in certain markets.
California's laws are all over the place with real estate, finance etc...Its a difficult market to survive. Most of the large carriers are pulling out of Florida because the hurricane risk is too much. They are trying to regulate premiums through the law to keep homeowners happy but all its doing is making the carrier unprofitable and they are pulling out.
Bottom line, I don't know 1st hand about Allstate, but if you are not in Florida or California I wouldn't worry too much.
?? Allstate agency opportunity
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