More bad news for Acuity. They’re not bragging quite as much as they were a few years ago – maybe they’ve had a nice slice of humble pie. Watch their combined climb each of the last few years, and likely be over 100 in 2008. Construction in Illinois is killing them, in addition to several poor underwriting decisions on accounts in Wisconsin, and Personal Lines isn’t good.
West Bend posted a 102 Combined in 2007, but that is the dirty little secret that they do not like to tell anyone. Also, construction is killing them in Illinois as they try to figure out what to do with all of that cheap Work Comp that they have written for very large agencies. They don’t want to explain the selling of their soul to their smaller agencies. Now storm losses are nailing them in Minnesota and Wisconsin. Not very good news ahead for WB, I’m afraid. (remember back about 10 years ago when they had to Non-renew all policies after November 1st? Or when they came in and told agents that they had new business “limits”? Or when they had to get out of trucking because they were trying to fight Heritage and General Causalty for that business?) I’m not saying it is that bad, but they are not headed in a good direction.
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More bad news for Acuity. They’re not bragging quite as much as they were a few years ago – maybe they’ve had a nice slice of humble pie. Watch their combined climb each of the last few years, and likely be over 100 in 2008. Construction in Illinois is killing them, in addition to several poor underwriting decisions on accounts in Wisconsin, and Personal Lines isn’t good.
Watcher……do you also keep track of West Bend? If so, how are they doing in this softening market?
I know back “in the day”, Heritage Mutual (ACUITY) and West Bend Mutual used to go at it hammer and tong.
West Bend posted a 102 Combined in 2007, but that is the dirty little secret that they do not like to tell anyone. Also, construction is killing them in Illinois as they try to figure out what to do with all of that cheap Work Comp that they have written for very large agencies. They don’t want to explain the selling of their soul to their smaller agencies. Now storm losses are nailing them in Minnesota and Wisconsin. Not very good news ahead for WB, I’m afraid. (remember back about 10 years ago when they had to Non-renew all policies after November 1st? Or when they came in and told agents that they had new business “limits”? Or when they had to get out of trucking because they were trying to fight Heritage and General Causalty for that business?) I’m not saying it is that bad, but they are not headed in a good direction.
Thanks, Watcher.
During my days with ISO, I worked with many Wisconsin companies for about 8 years. Enjoyed the people…more than those I met in other states.