Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE

Go Back   Insurance Forum > Insurance Agents and Brokers Forum > Homeowners Insurance Forum

Reply to Pulling Out Of The Market     
Old 11-02-2012, 04:16 PM   #1
Guru
 
Join Date: Apr 2012
Posts:1,102
State: nyc2phi is an Insurance Agent from New York
nyc2phi is a member of 1000 posts VIP club
Pulling Out Of The Market Pulling Out Of The Market
I keep hearing that companies are pulling out of the homeowners market, rumor says State Farm, Tavelers, ect. is this true?
------------------------------------
  Reply With Quote to Pulling Out Of The Market

Old 11-02-2012, 04:27 PM   #2
Guru
Josh on Pulling Out Of The Market - Insurance Forum
 
Join Date: Jan 2009
Posts:10,673
State: Josh is an Insurance Agent from Virginia
Josh is a member of 5000 posts Super VIP club
Pulling Out Of The Market Re: Pulling Out Of The Market
It's unlikely any of the big ones will pull out altogether, but they do close out certain states. After Katrina Allstate stopped writing business on a lot of costs because they didn't want to risk getting clubbed over the head like State Farm did. That isn't uncommon.

------------------------------------
UNLIMITED telemarketing lists for $50/month
Great for generating HOT leads for Medicare, Auto, Health, Life, and more!
www.ListShack.com
888-905-3282
Get a free cold calling eBook here!
  Reply With Quote to Pulling Out Of The Market
Old 11-02-2012, 04:35 PM   #3
Guru
 
Join Date: Apr 2012
Posts:1,102
State: nyc2phi is an Insurance Agent from New York
nyc2phi is a member of 1000 posts VIP club
Pulling Out Of The Market Re: Pulling Out Of The Market nyc2phi is the thread starter for: Pulling Out Of The Market

I bound a condo in Ocean City, NJ today. We had to of been the only company willing to do that after Sandy...
------------------------------------
  Reply With Quote to Pulling Out Of The Market
Old 11-02-2012, 05:37 PM   #4
Guru
 
Join Date: Aug 2008
Posts:607
State: russelltw is an Insurance Agent from Undisclosed Location
Pulling Out Of The Market Re: Pulling Out Of The Market
Farmers pulled out of NC several years ago after the NC Joint Underwriters Assn (coastal wind coverage mainly) sent a letter to companies offering p/c in NC (if you offer property coverage, you have to participate in the Joint Underwriters Assn) that said if there was a direct hit with a Cat 5 hurricane, we have the right to assess each company an unlimited amount. Farmers said "no thanks" and cancelled all their property coverage in NC.

------------------------------------
NC Medicare Supplement
  Reply With Quote to Pulling Out Of The Market

Register Now for FREE!
To sign up for your FREE INSTANT account, please complete the form.

Username:
    Password:   Confirm Password:     E-Mail:   Confirm E-Mail:     
   
Question of the day:   United States of I agree to forum rules 


Old 11-02-2012, 06:23 PM   #5
Guru
CHUMPS FROM OXFORD on Pulling Out Of The Market - Insurance Forum
 
Join Date: Mar 2007
Posts:9,585
State: CHUMPS FROM OXFORD is an Insurance Agent from Ohio
CHUMPS FROM OXFORD is a member of 5000 posts Super VIP club
Pulling Out Of The Market Re: Pulling Out Of The Market
Wow! I bet "The Market" is not happy.

Sorry.

By the way, just minutes ago I was wearing my PSU jacket. Even though I was happy that OU beat them, I'm hoping for a strong finish, including a win over Purdue Saturday.

They should be Top15 again in about 2-3 years. Recruiting should pick up.

------------------------------------
Ohioquotes.com PaHealthInsuranceCoverage.com

Service since 1980 and Miami University Hockey Booster
Sporting News Fantasy Football Champion
  Reply With Quote to Pulling Out Of The Market
Old 11-04-2012, 07:38 PM   #6
Guest
 
Posts:n/a
State: Guest is an Insurance Agent from
Pulling Out Of The Market Re: Pulling Out Of The Market
nationally, Homeowners loss ratio is running at 122%, lots of companies will bail if they can
------------------------------------
  Reply With Quote to Pulling Out Of The Market
Old 11-04-2012, 09:13 PM   #7
Super Genius
 
Join Date: Sep 2011
Posts:136
State: JP Savage is an Insurance Agent from Illinois
Pulling Out Of The Market Re: Pulling Out Of The Market
Where did you read the 122%? I would like to read the article.
------------------------------------
  Reply With Quote to Pulling Out Of The Market
Old 11-05-2012, 08:36 PM   #8
Guru
dubya4472 on Pulling Out Of The Market - Insurance Forum
 
Join Date: Feb 2010
Posts:625
State: dubya4472 is an Insurance Agent from Oklahoma
Pulling Out Of The Market Re: Pulling Out Of The Market
They aren't exactly pulling out, but in Oklahoma Farm Bureau sent letters to all of their policyholders who only had a property with them. The letter told them to move their cars to FB or move their property somewhere else, they will no longer insure homes without autos.

It has been nice for me, I've picked up quite a few nice properties.
------------------------------------
  Reply With Quote to Pulling Out Of The Market
Old 11-05-2012, 08:41 PM   #9
Guru
VolAgent on Pulling Out Of The Market - Insurance Forum
 
Join Date: May 2009
Posts:10,811
State: VolAgent is an Insurance Agent from Tennessee
VolAgent is a member of 5000 posts Super VIP club
Pulling Out Of The Market Re: Pulling Out Of The Market
Has anyone asked the market how it feels? It can't be good, always having a carrier pulling out early on you.

------------------------------------
You can pay the premium or you can own the loss.
  Reply With Quote to Pulling Out Of The Market
Old 11-05-2012, 08:42 PM   #10
Guru
 
Join Date: Jun 2011
Posts:1,052
State: NCAgent is an Insurance Agent from North Carolina
NCAgent is a member of 1000 posts VIP club
Pulling Out Of The Market Re: Pulling Out Of The Market
Well for the right price the carriers won't have to pull out now, would they?
------------------------------------
  Reply With Quote to Pulling Out Of The Market
Reply to Pulling Out Of The Market 

  Insurance Agent Forum > Insurance Forum > Insurance Agents and Brokers Forum > Homeowners Insurance Forum




Similar Threads with Pulling Out Of The Market
Thread Thread Starter Forum Replies Last Post
403b Market & Life Insurance baggins415 Annuities Forum 35 09-27-2014 05:33 PM
Senior Market Vs. Individual Health Market Experienced Agent General Insurance Agent Discussions 9 09-14-2011 10:48 AM
Aetna Latest Out of Ind. Individual Health Market STIBROKER Health Care Reform Forum 26 08-13-2011 09:04 AM
Shaking Foundations: An Assessment of the Impact of the Japanese STIBROKER General Insurance Agent Discussions 0 03-14-2011 05:35 PM
Is Individual Health Market Toast? HealthGuy Individual Health Insurance Forum 49 03-11-2009 02:19 PM
Most lucrative market; medsup, ind health, or final expense Lepalms Final Expense Forum 3 11-27-2008 09:47 AM
Final Expense Insurance Market joedavis2007 Final Expense Forum 17 07-06-2008 05:25 PM



All times are GMT -5. The time now is 10:09 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2014, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

When it comes to technology, my practice is: