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.
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
Product Liability Verdicts Are on the Rise but There Are Ways to Avoid Them 
Death of Teenager on Carnival Cruise Ship Ruled a Homicide 
Dozens of State Attorneys General Urge Congress Not to Block AI Laws 
Best Quarter in a Quarter Century, Says S&P Q3 Analysis of US P/C 
