What else do the WIAA want to complain about? Finally, the DOI is trying to do something to eliminate the fraud that is committed by a large number of agents, brokers, and insureds for the purposes of reducing premium that the companies would have been otherwise entitled to. Quite candidly, I\’m convinced if the mileage questions had been answered truthfully all along on the application, this kind of \”unnecessary\” oversight would never have been required.
With the DOI now hammering on the carriers to eliminated \”territorial rating\” and use an insured\’s driving record, miles traveled, and claims history as the only criteria for setting rates, it\’s only fair to make sure that information on the application is accurate. The mileage on the odometer certainly is a far more precise measure than \”checking the 12,000 mile box\” on an Acord application.
The Autmobile Club seems to think so – they just announced a complete overhaul of how they are rating their automobile accounts which no longer includes a territorial factor. The DOI has now painted a target on every other carrier now that one of the five largest writers in the state is doing what Propositon 103 supposedly required.
As far as the agents being inconvenienced by having to pick up some additional data – tough. That\’s what the carriers pay them to do. Mercury, for example, routinely asks for far more information than you could ever imagine an agent needs to get. Funny, their agents don\’t mind doing the work because doing so saves their customers money. Have any of you tried to get a Mercury appointment recently?
The WIAA should stop bloviating. There are other far more relevant projects they could be taking on.
Figures that a So. CA agent would not want territorial rating. I, for one, do not want to subsidize them just because they whine about premiums. I also hope you don\’t have a claim with a Mercury insured & have to deal with them on that level. Ever think to check with WIAA to see what else they are working on??
The WIAA and the American Agent Alliance, working together, were instrumental in defeating Garamendi\’s attempts at requiring carriers to disclose commissions on policies, when the other BIG association was making deals with the commish to implement that god-for-bid requirement. If that\’s not protecting an agent\’s behind, I don\’t know what is. I\’m sure you\’d be loving to spend time justifying to your clients, the commission a carrier is paying you on a $50,000 account.
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What else do the WIAA want to complain about? Finally, the DOI is trying to do something to eliminate the fraud that is committed by a large number of agents, brokers, and insureds for the purposes of reducing premium that the companies would have been otherwise entitled to. Quite candidly, I\’m convinced if the mileage questions had been answered truthfully all along on the application, this kind of \”unnecessary\” oversight would never have been required.
With the DOI now hammering on the carriers to eliminated \”territorial rating\” and use an insured\’s driving record, miles traveled, and claims history as the only criteria for setting rates, it\’s only fair to make sure that information on the application is accurate. The mileage on the odometer certainly is a far more precise measure than \”checking the 12,000 mile box\” on an Acord application.
The Autmobile Club seems to think so – they just announced a complete overhaul of how they are rating their automobile accounts which no longer includes a territorial factor. The DOI has now painted a target on every other carrier now that one of the five largest writers in the state is doing what Propositon 103 supposedly required.
As far as the agents being inconvenienced by having to pick up some additional data – tough. That\’s what the carriers pay them to do. Mercury, for example, routinely asks for far more information than you could ever imagine an agent needs to get. Funny, their agents don\’t mind doing the work because doing so saves their customers money. Have any of you tried to get a Mercury appointment recently?
The WIAA should stop bloviating. There are other far more relevant projects they could be taking on.
Figures that a So. CA agent would not want territorial rating. I, for one, do not want to subsidize them just because they whine about premiums. I also hope you don\’t have a claim with a Mercury insured & have to deal with them on that level. Ever think to check with WIAA to see what else they are working on??
The WIAA and the American Agent Alliance, working together, were instrumental in defeating Garamendi\’s attempts at requiring carriers to disclose commissions on policies, when the other BIG association was making deals with the commish to implement that god-for-bid requirement. If that\’s not protecting an agent\’s behind, I don\’t know what is. I\’m sure you\’d be loving to spend time justifying to your clients, the commission a carrier is paying you on a $50,000 account.