The AARP program has always irked me as an IA. The program can sell scores of business that regular agents can\’t, are immune from all kinds of restrictions (like property caps here in Florida, age restrictions on drivers, etc.). I haven\’t seen AARP cost structures but I\’m sure that it costs as much, and probably more, to run the program using employees rather than independents and it deprives us IA\’s of legitimate specialty niche and income stream, especially here in Florida. Now Hartford has announced they are paring down their property exposure by a third in Florida and it sounds like a full on third/third/third 3 year pull out plan to me, so IA\’s will lose all of their over the long haul. And, of course, the reduction order does not involve the AARP program….which we can\’t use. I think the term for this is \”disintermediation\”.
Anybody know if the deal requires HIG to sell homeowners in FL until 2020?
Florida? What about North Dakota?
Good thing Mike Hughes no longer works there. That coward would have lost the deal for sure!
It was announced recently that no new policies will be written however existing policies will remain covered.
The AARP program has always irked me as an IA. The program can sell scores of business that regular agents can\’t, are immune from all kinds of restrictions (like property caps here in Florida, age restrictions on drivers, etc.). I haven\’t seen AARP cost structures but I\’m sure that it costs as much, and probably more, to run the program using employees rather than independents and it deprives us IA\’s of legitimate specialty niche and income stream, especially here in Florida. Now Hartford has announced they are paring down their property exposure by a third in Florida and it sounds like a full on third/third/third 3 year pull out plan to me, so IA\’s will lose all of their over the long haul. And, of course, the reduction order does not involve the AARP program….which we can\’t use. I think the term for this is \”disintermediation\”.