Fireman’s Fund Names Larocco President/CEO

March 5, 2008

  • March 5, 2008 at 4:02 am
    DRE says:
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    Seems Michael doesnt stay very long with his employers. Hey Mike, I bet you will leave Firemans Fund in less than 2 years to “pursue other interests”. Maybe with the Fund you can accomplish more than the dismal performance at Safeco. Paula has flipped the company 180% from your time there…thank the lord almighty. Good luck..FF needs it…rates are aweful in personal lines and not on the radar with most agencies.

  • March 5, 2008 at 5:11 am
    Fireman's Fund Retiree says:
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    I left Fireman’s Fund in 1998 after 24 years. It was a great place to learn and refine your insurance skills prior to its acquisition by Allianz. Since the mid 1990s, their senior management has looked for a quick ROE fix to satisfy Allianz and failed to invest in its systems to support the pricing refinements that have been commonplace among the “big players”. They simply lack patience to go the distance. The Fund has gone the route of routinely hiring a new senior executive who just finished a short tour with another company. He, in turn, brings in his team who insults the existing middle managers by saying that if they were any good the company would not be in the shape that it is.
    Many veteran employees have left after attempting to tell the emperor about his lack of clothes.

  • March 6, 2008 at 11:27 am
    Boxer says:
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    I was part of the recent layoffs at the Fund. I agree with retiree, FFIC’s systems are horrendous. They’ve invested millions in a new system which is also awful. Larocco will be shocked when he compares FFIC systems with what he had at Safeco. The 12/07 layoffs will be followed by more layoffs (already announced) in June 08. They lost their President, Joe Beneducci, who was the star of the company under suspicious circumstances. They have tried to hold the line on pricing but they are paying a price in terms of top line growth and the resulting expense ratios. Not a pretty picture. I guess that’s why it took them a year to find a new Pres and they settled for Larocco.

  • March 6, 2008 at 1:10 am
    Fireman Bill says:
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    I smell some sour grapes in this forum. Let’s clear a few things up about the Fund.
    First off, Fireman’s Fund is one of only three companies successfully navigating this soft market. Did you not see the profit and growth charts from 2007?
    Second, Since Allianz has been the parent company, things have improved on an annual basis. Profits are through the roof and we have the best Underwriters in the industry. Our IT deparntmee will at
    Third, the people let go towards the end of 2007,
    Fireman’s Fund material. Our motto is ‘Work hard play hard’. We work harder than any agency out there and the results are a VERY cohesive group of employees that love this company.
    Fourth, Maybe we are still high in some areas of Personal Lines. Compare our packages side by side to anyone else in the industry and you will see why. We are leaders in innovation and give our policyholders MORE than they expect every single time. Our goal has never been to be the cheapest insurance company out there, only the best. Without a doubt, our number one priority is to satisfy our customers.
    Chuck Kavitsky is one of the most intelligent men on this planet. If you doubt that, look at his track record. Look at how far Fireman’s Fund has come since he arrived. Less than a decade ago, people wrote us off as dead. Today, we have agencies all over the country calling us to find out what our appetite is.
    Finally, the new CEO will do great. We love him and fully believe he will make us even more of a player in the Insurance Industry. From my understanding, he helped turn Safeco intto a profitable company.
    Go ahead and hate on the Fund. We will be implementing things to help the UW’s vist more again.

  • March 6, 2008 at 1:16 am
    Fireman Bill says:
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    Whoops. Missed something. I was on a tangent and missed what my point was about our IT Department.
    Currently, we are merging many of our systems with Allianz. Allianz has the most sophisticated and up to date systems in the business. Soon, we will too.
    I’m sorry if you lost your job or were unhappy here, truly I am. The group I work with are my friends, not my co-workers. This is a great place to work and I would not consider leaving under any circumstance.

  • March 6, 2008 at 2:28 am
    CG says:
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    Wow – Chuck (um, I mean Bill), it’s so great that you take the time to write!!!

    I truly love FFIC! However, Fireman Bill who is spewing absolute cr@p, makes it difficult to believe anything positve. Credibility is everything and anyone at FFIC who doesn’t acknowlege the HUGE morale issues right now is either happy in their ivory tower and doesn’t have a clue or is full of it. I fear that this proud company will become extinct unless something changes drastically.

  • March 7, 2008 at 8:36 am
    DRE says:
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    Evidently Fireman Bill has been drinking the laced FF Cool Aid! People like this are “yes” men and fair weathered employees. The day he gets layed off, he will rip FF a new one. FF is NOT a player in personal lines to start. In 10 years, I have never seen a marketing rep or received a contact nor seen a rep at a trade show. Out of touch OUT OF MIND… So Fireman Bill, don’t come into this community and think we will believe your empty rhetoric. Have another sip of Larocca Lemonade….fool

  • March 7, 2008 at 12:13 pm
    cg says:
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    Hey DRE – You haven’t seen a Personal Insurance Marketing Rep because they eliminated that position in 04! They changed to a handles everything rep. If you arenn’t a big FFIC writer (and who is at their prices) they don’t know you.



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