Prudential Financial’s property/casualty subsidiary has terminated the contracts it had with 200 independent agencies across the country earlier this month in a move to focus its retail distribution on captive agents.
While independent agents will be prohibited from selling any new Prudential business within 30 days of being notified of their termination, they will be able to renew any existing policyholders.
Prudential Property and Casualty Inc. (PRUPAC) lost $134.5 million in 2003, and its parent is considering selling the business outright, according to a company spokesperson.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
