jmr30183
Expert
It's no secret that Homeowners is the least profitable policy type for most insurance companies. In retail, they would refer to it as a "loss leader".
I represent seven Personal Lines carriers, six of which offer both Homeowners and Personal Auto. Two years ago, only one of them required a Persoenal Auto policy in order to write Homeowners coverage. Now all six of them require the Personal Auto business before they'll issue Homeowners!
As for pulling out of various markets, it wouldn't surprise me if one certain company started sending cancellations attached to their HO claim payments.....or with their claims denails, more accurately. And in hurricane and tornado ravaged areas, they'd even have couriers hand-deliver them to the piles of rubble....
I represent seven Personal Lines carriers, six of which offer both Homeowners and Personal Auto. Two years ago, only one of them required a Persoenal Auto policy in order to write Homeowners coverage. Now all six of them require the Personal Auto business before they'll issue Homeowners!
As for pulling out of various markets, it wouldn't surprise me if one certain company started sending cancellations attached to their HO claim payments.....or with their claims denails, more accurately. And in hurricane and tornado ravaged areas, they'd even have couriers hand-deliver them to the piles of rubble....
