?? Allstate agency opportunity

[dtodd]

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

thanks

 

[chamilton]

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?

 

[Agent Jeff]

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 ?

 

[djs]

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.

Dan

 

[cdiddy229]

What is an EF?

 

[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.

Full Story

Office of Insurance Regulation

This is the first time Florida Has ever suspended an insurer for not voluntarily giving info, and stemmed from their rate increase request.

You may want to pay attention as this may start to occur in other states if other commissioners are paying mind.

I guess they are also being fined $25,000 per day in Missouri court for its ongoing failure to provide similar documents.

 

[exofficio]

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.

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.

Full Story

Office of Insurance Regulation

This is the first time Florida Has ever suspended an insurer for not voluntarily giving info, and stemmed from their rate increase request.

You may want to pay attention as this may start to occur in other states if other commissioners are paying mind.

I guess they are also being fined $25,000 per day in Missouri court for its ongoing failure to provide similar documents.

 

[insuremojo]

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.

 

[djs]

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.

Dan

 

[insuremojo]

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.