Farmers Changes Hiring Policies Re: Bankrupcy

[thereisabetterway]

I have heard recently that Farmers has changed their hiring policy on individuals that have filed bankrupcy, from 3 years of discharge to 1 year. Any information on whether this is true or not and why they did it - would be greatly appreciated.

[justthere]

Even if they have, I would not advise anybody going with them at this time. This comes from a person with 22 years of high achievement with Farmers. I hear they are losing about 80-90% of their career agents right now due to really tough pricing. It doesn't matter how much training you get if your rates preclude your opportunity to survive.

[lonestar]

In 2009, CEO Paul Hopkins went on record at the stockholders meeting, that out of the roughly 10,000 persons interested in becoming a Farmers agent each year, that only about 250-350 actually make it to a storefront 2 years later. So, by my math, that is about a 2.5% to 3.5% chance of making it 2 years. This does not account for those that fallout after 2 years. And, I am sure that it has gotten progressively harder to make it the last year and this year, than it was in 2009. Numbers don't lie.

[gregcw]

lonestar, I started out life with Farmers in February 1982. I left them in February 1989 by mutual consent. In 1994 I compiled a summary of the appointments in my operating area. Farmers had maintained an agency force in that area of five full time agents with only one bona-fide retirement. To replace the agent that I was told I was being hired to replace, they apponted three agents, one of which left town in the dark of night ater shoving his wifes face into a stove. At that point they hired a fourth agent.

Between 1982 and 1994 Farmers had appointed over forty agents to maintain five agents with only the one retirement and only one of the appointed agents (ME) becoming an independent agent and still in business thirty-one years later. Now thirty-one years later they have eight appointed agents in the same operating area and I have stopped counting the agents that they have appointed, thrown up against the wall, that have failed. At least in this area their suvival rate is far below 2.5%. Their practice has always been to throw agents against the wall like dirt to see if they stick.

a side comment to justhere, I have to commend you for working with Farmers for 22 years. Of the Farmers agents in my area, only one has over 12 years and he's the last agent that was already an agent when I appointed. He began in 1977 so he has thirty-five years with Farmers.

[kevinraz]

Was an FIG agent from 1995-1998. Looked last year at the Farmers website...none of the agents who were with the company in my territory are still with the company. When I left after 3 years well under half were left.

Left FIG and went to two other agencies then came over to company side, have been underwriting commercial lines for several years, this is a much better gig. Don't miss the agency side one iota.

Starting a business one year removed from bankruptcy? It would never be able to get a quote from most commercial carriers due to credit score, why would anyone think they would survive?

[lonestar]

by Farmers loosening their agent hiring practices, this can only be indicative that they are having trouble filling their recruiting goals. I hope that anyone considering a career as an agent with Farmers, would read these posts, and ask themselves a question: Why is it so difficult to be a Farmers agent today, and what makes any prospective agent, think that the odds of them being successful are greater than 2.5% to 3.5%?