I have posted here before amid State Farm and Allstate public gaffs, and I am amazed that these two companies are still hanging in there. Both of these companies are trying to hang their hats on their agents selling securities, mutual funds, variable life and annuities, and other \”financial services\”. And their advertising now has the guts to try to convince gullible clients to buy from them to get the \”superior service and products from their PROFESSIONAL agents\”. I laugh my butt off everytime that actor in the Allstate commercials says \”that\’s Allstate\’s stand\”, like their company just invented something like a deductible. If any insurance company chairmen or CEOs are reading this, try this on for size: If you are serious about developing your insurance company, how about putting on your boards and staffing your Vice Presidential positions with some of the savviest, best prepared, and effective business people in the WORLD, your independent insurance agents. I am sitting here waiting to puke over the announcement of yet another company\’s new president, a Harvard educated MBA that has never, NEVER, sold an insurance policy and is enjoying his or her $5,000,000 salary and $10,000,000 bonus.
Allstate shifting away from risky business taking years to complete?? WOW! Does this mean the next time I have a claim Allstate will wait a year to cancel my policy instead of two months?
I wonder how \”Allstate Blue\” high risk auto coverage fits into the big picture?
My favorite quote: \”We like the homeowners business — especially without losses from major hurricanes\”
WELL DUH?!?! RIGHT! IT\’S INSURANCE YOU NINNY!! WE EACH TAKE A RISK!!! DDUUHHHH!!
i may be mistaken, but didn’t prop 103 bar insurance companies from cherry picking what classes of insurance they could write? i think it said that if they wrote one class of business(auto) they could not stop writing homeowners. I may be wrong so maybe someone could straighten me out on this.
What do you mean \”your independent agents thank you for your business\”? Last time I checked a good share of Allstate\’s business was written by independent agents.
Why would anyone want to represent Allstate? They get into and out of business like crazy. One second, they are in the securities business, the next second, they are back in home and auto. This pulling out of lines of business has been going on for years with this troubled company. Notice companies that don\’t practice panic management have done a much better. Next time Allstate offers you some lucrative contract with a significant bonus package, stay away, it will be too good to last.
allstate wants to get rid of their present HO policies because of the wording on wind and flood coverage. they will reenter the market in a year or so with a policy that covers less, is more precisely worded to eliminate most of the ‘bells and whistles’. the new HO policy will roll out with great fanfare and their publicity dept will gear back up at that time. remember the mold crisis? state farm exited the HO market until they came up with a new policy that severly limited the coverage for mold. have you noticed how few people have mold attacks since the new HO policies limiting coverage came into being? it is amazing that when there are no deep pockets no one gets sick. amazing!!
Allstate has been paying this game for years. They pull in and out of markets. While companies do this on rare occasion, Allstate does it like they can care less about their agents or policyholders. No other company plays this game. If you want to be a player in the insurance game, stay away from Allstate.
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I have posted here before amid State Farm and Allstate public gaffs, and I am amazed that these two companies are still hanging in there. Both of these companies are trying to hang their hats on their agents selling securities, mutual funds, variable life and annuities, and other \”financial services\”. And their advertising now has the guts to try to convince gullible clients to buy from them to get the \”superior service and products from their PROFESSIONAL agents\”. I laugh my butt off everytime that actor in the Allstate commercials says \”that\’s Allstate\’s stand\”, like their company just invented something like a deductible. If any insurance company chairmen or CEOs are reading this, try this on for size: If you are serious about developing your insurance company, how about putting on your boards and staffing your Vice Presidential positions with some of the savviest, best prepared, and effective business people in the WORLD, your independent insurance agents. I am sitting here waiting to puke over the announcement of yet another company\’s new president, a Harvard educated MBA that has never, NEVER, sold an insurance policy and is enjoying his or her $5,000,000 salary and $10,000,000 bonus.
Allstate shifting away from risky business taking years to complete?? WOW! Does this mean the next time I have a claim Allstate will wait a year to cancel my policy instead of two months?
I wonder how \”Allstate Blue\” high risk auto coverage fits into the big picture?
My favorite quote: \”We like the homeowners business — especially without losses from major hurricanes\”
WELL DUH?!?! RIGHT! IT\’S INSURANCE YOU NINNY!! WE EACH TAKE A RISK!!! DDUUHHHH!!
From Allstate to NoRisk. Your independent agents thank you for your business.
i may be mistaken, but didn’t prop 103 bar insurance companies from cherry picking what classes of insurance they could write? i think it said that if they wrote one class of business(auto) they could not stop writing homeowners. I may be wrong so maybe someone could straighten me out on this.
\”Risky business\” – wonder if this includes Texas hail storms?
Maybe we could all start an insurance company, if we had no risk! Might make some money!
What do you mean \”your independent agents thank you for your business\”? Last time I checked a good share of Allstate\’s business was written by independent agents.
Why would anyone want to represent Allstate? They get into and out of business like crazy. One second, they are in the securities business, the next second, they are back in home and auto. This pulling out of lines of business has been going on for years with this troubled company. Notice companies that don\’t practice panic management have done a much better. Next time Allstate offers you some lucrative contract with a significant bonus package, stay away, it will be too good to last.
allstate wants to get rid of their present HO policies because of the wording on wind and flood coverage. they will reenter the market in a year or so with a policy that covers less, is more precisely worded to eliminate most of the ‘bells and whistles’. the new HO policy will roll out with great fanfare and their publicity dept will gear back up at that time. remember the mold crisis? state farm exited the HO market until they came up with a new policy that severly limited the coverage for mold. have you noticed how few people have mold attacks since the new HO policies limiting coverage came into being? it is amazing that when there are no deep pockets no one gets sick. amazing!!
Allstate has been paying this game for years. They pull in and out of markets. While companies do this on rare occasion, Allstate does it like they can care less about their agents or policyholders. No other company plays this game. If you want to be a player in the insurance game, stay away from Allstate.