Liberty Mutual to Phase Out 8 Regional Insurance Brands

January 10, 2013

  • January 10, 2013 at 1:52 pm
    Bill says:
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    Surprise, surprise!

  • January 10, 2013 at 1:59 pm
    Compman says:
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    I represent Golden Eagle and this is the first I have heard about it. I don’t think this is a bad thing at this point.

    • January 11, 2013 at 11:01 am
      MeIsEinstein says:
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      Agree, and it was also confusing to clients.

  • January 10, 2013 at 3:00 pm
    Mikey says:
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    No brainer. It was confusing to agents where to submit business for middle market.

  • January 10, 2013 at 3:04 pm
    ExciteBiker says:
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    Any word on how many people (if any) will be RIF’ed in this phase-out? Are they closing down or consolidating any offices? Any duplication of management? I’ve heard underwriters have had to process business using any number of legacy systems. Presumably the phase-out also involves systems consolidation?

  • January 11, 2013 at 2:02 pm
    Don says:
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    What about Safeco?

    • January 11, 2013 at 4:21 pm
      reader says:
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      read the last paragraph

    • January 14, 2013 at 1:41 pm
      KB says:
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      They should have retired Safeco brand too. It’s not a positive thing.

  • January 11, 2013 at 2:22 pm
    Mikey says:
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    From what I hear it is a restructure/rebranding vs. downsizing of employees. Some ee’s asked to move to different areas to be closer to their agents. I think Safeco remains separate, but I’m not completely sure on that.

    • January 16, 2013 at 11:22 am
      GL GURU says:
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      Nope, it is a downsizing too. Many of my friends are being laid off.

  • January 11, 2013 at 2:56 pm
    Former Status Quo says:
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    This is more for commercial accounts – Safeco is LM’s personal markets division.

  • January 14, 2013 at 10:28 am
    NH Agent says:
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    I believe the strategy by Liberty to phase out the Peerless brand in the Northeast will ultimately be viewed as a poor decision by future management & board. In today’s world of buying local from strong local and regional companies, the Peerless brand will be missed. Peerless was the #1 independent agency brand for personal and commercial lines in many of the New England states whereas Liberty Mutual does not and I suggest will never share that same title. Additionally Safeco has very little name recognition in New England and the confusion amongst agents as to where to submit middle market business will continue as it does with other national carriers.

  • January 14, 2013 at 12:11 pm
    dennis says:
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    wrong

    • January 14, 2013 at 1:53 pm
      NH Agent says:
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      Dennis – “wrong” … that’s all you got?

  • January 14, 2013 at 12:53 pm
    CA Ins Agent says:
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    I usually mention that Golden Eagle is owned by Liberty Mutual anyway. I do it to leverage all the money they have spent on branding. Sounds like a good decision to me.

    Usually agents need a seperate appointment to access Liberty Mutual. I wonder if this change will be in name only or if it will give agents access to more of Liberty’s insurance programs.

    • January 14, 2013 at 1:56 pm
      NH Agent says:
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      CA Ins Agent – At it’s highest point, was Golden Eagle ever the top IA brand/market share in CA? Also, I have had the Liberty Mutual Middle Market appointment for a few years. We wrote a couple of large ($100K plus) accounts but were not able to be more sucessful than that. Now, as you suspect, I think all agents will have access to Liberty Middle Market.

  • January 15, 2013 at 12:20 pm
    Matthew says:
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    Now if you are a Liberty Direct (employee) agent start sleeping with one eye open. There is no need for you now.

    • January 15, 2013 at 12:46 pm
      Mikey says:
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      They did away with Liberty Direct agents for the most part in 2009.

  • January 15, 2013 at 12:30 pm
    Pat in UNY says:
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    It’s about scale, scale, scale – w/low interest rates, make it up on expense, while cont’g to probe for rate. Grow or die your agcy, as cheapest to hdl the big’ns & send the lesser back to up and coming regionals and start the cycle all over again!

    • January 16, 2013 at 11:25 am
      GL GURU says:
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      No insurance comapny has gone out of business because of expense ratios. They have for loss ratios.

  • January 15, 2013 at 3:05 pm
    JDinTX says:
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    Safeco is very well respected here in Texas. One of the biggest players with very stable rates unlike some others…

  • January 15, 2013 at 4:51 pm
    insurance102 says:
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    Some of Liberty’s regional brands might reconsider altering their underwriting guidelines.

    For example, as a referral account underwriter, we classify meat processing plants as a claims-made class of business for liability due to the tail and severity of potential claims.

    I almost fell out of my chair when I saw that one of their regional brands wrote this class of business—in a BOP!

    Let them write it in a BOP, and when these regional brands exit the business these insureds will be reunderwritten with the proper pricing that is commensurate with the exposures and hazards of this class of business.

    • January 15, 2013 at 7:04 pm
      nomesaneman says:
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      Back in the day, Mission Insurance had classified Colt Firearms as a “metalworker”.

      • January 16, 2013 at 11:26 am
        GL GURU says:
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        LMAO

      • January 16, 2013 at 11:26 am
        GL GURU says:
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        I guess it is true. You are only as smart as your dumbest competitor.

  • January 17, 2013 at 7:40 pm
    CC says:
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    Peerless is also in personal lines. It is not clear to me whether Liberty is retiring just the commercial lines business or the 8 regional brands entirely.

    • January 18, 2013 at 1:37 pm
      NH Agent says:
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      All Peerless personal lines has or will be shortly converted to Safeco.

  • January 18, 2013 at 8:29 pm
    tagteam says:
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    The article says “business as usual”? If that is being in a constant state of confusion, then yes, it’s business as usual.



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