I don’t get it. Texas is one of the worst cat states in the country and Allstate basically hates to write home business, because of the cat exposures. What in the world are they thinking??
Texas is one of the largest potential marketplaces for not only home insurance, but auto, life and financial services. And, 2013 was a very profitable year for insurers. On top of that, at least for now, the regulatory environment is not too hostile. With file and use, they can rate their home insurance products at a rate that is dicated by loss ratios. And last, but no least, reinsurance is purchased by all companies for the cat exposures.
I don’t get it. Texas is one of the worst cat states in the country and Allstate basically hates to write home business, because of the cat exposures. What in the world are they thinking??
Texas is one of the largest potential marketplaces for not only home insurance, but auto, life and financial services. And, 2013 was a very profitable year for insurers. On top of that, at least for now, the regulatory environment is not too hostile. With file and use, they can rate their home insurance products at a rate that is dicated by loss ratios. And last, but no least, reinsurance is purchased by all companies for the cat exposures.
We all know Texas isn’t big on regulations. Fertilizer anyone?
Is black mold now pretty much excluded there (Texas)?
Would love to see Allstate open exclusive agencies with in Auto Dealers in the Rochester NY area.