Best Puts GMAC’s Ratings Under Review/Negative

February 28, 2008

  • February 28, 2008 at 2:06 am
    Rich says:
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    This doesn’t look good. If GMAC falls to a B rating, I don’t know that it will end there without having to seek cash from somewhere.
    Other thoughts?

  • February 28, 2008 at 2:27 am
    WILLIE says:
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    PROBABLY EXPLAINS WHY THEY BACKED OUT FROM ENTERING THE KENTUCKY AUTO INS. MARKET AT THE 11TH HOUR LAST YEAR AFTER THEY WENT THROUGH THE APPOINTMENT PROCESS, FILED RATES, ETC.

  • February 28, 2008 at 4:50 am
    Andy says:
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    Glad I am not a North Carolina Independent Agent!

  • February 29, 2008 at 10:35 am
    caffiend says:
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    I am a NC Independent Agent. Am I worried? Not really. This is due to the fact that while GMAC is one of the companies we write with, it’s not our only company that we write business with. If the premiums start to become an issue I’ve six other carriers that would be glad to take the business.

    The people I have sympathy are the captive agencies in FL for Allstate and State Farm. In a commision based business such as insurance, writing solely for companies that decline to issue new policies and are looking to withdraw from the market may require that you find a new job soon…



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