I have posted here before amid State Farm and Allstate public gaffs, and I am amazed that these two companies are still hanging in there. Both of these companies are trying to hang their hats on their agents selling securities, mutual funds, variable life and annuities, and other \”financial services\”. And their advertising now has the guts to try to convince gullible clients to buy from them to get the \”superior service and products from their PROFESSIONAL agents\”. I laugh my butt off everytime that actor in the Allstate commercials says \”that\’s Allstate\’s stand\”, like their company just invented something like a deductible. If any insurance company chairmen or CEOs are reading this, try this on for size: If you are serious about developing your insurance company, how about putting on your boards and staffing your Vice Presidential positions with some of the savviest, best prepared, and effective business people in the WORLD, your independent insurance agents. I am sitting here waiting to puke over the announcement of yet another company\’s new president, a Harvard educated MBA that has never, NEVER, sold an insurance policy and is enjoying his or her $5,000,000 salary and $10,000,000 bonus.
Allstate shifting away from risky business taking years to complete?? WOW! Does this mean the next time I have a claim Allstate will wait a year to cancel my policy instead of two months?
I wonder how \”Allstate Blue\” high risk auto coverage fits into the big picture?
My favorite quote: \”We like the homeowners business — especially without losses from major hurricanes\”
WELL DUH?!?! RIGHT! IT\’S INSURANCE YOU NINNY!! WE EACH TAKE A RISK!!! DDUUHHHH!!
i may be mistaken, but didn’t prop 103 bar insurance companies from cherry picking what classes of insurance they could write? i think it said that if they wrote one class of business(auto) they could not stop writing homeowners. I may be wrong so maybe someone could straighten me out on this.
What do you mean \”your independent agents thank you for your business\”? Last time I checked a good share of Allstate\’s business was written by independent agents.
Why would anyone want to represent Allstate? They get into and out of business like crazy. One second, they are in the securities business, the next second, they are back in home and auto. This pulling out of lines of business has been going on for years with this troubled company. Notice companies that don\’t practice panic management have done a much better. Next time Allstate offers you some lucrative contract with a significant bonus package, stay away, it will be too good to last.
allstate wants to get rid of their present HO policies because of the wording on wind and flood coverage. they will reenter the market in a year or so with a policy that covers less, is more precisely worded to eliminate most of the ‘bells and whistles’. the new HO policy will roll out with great fanfare and their publicity dept will gear back up at that time. remember the mold crisis? state farm exited the HO market until they came up with a new policy that severly limited the coverage for mold. have you noticed how few people have mold attacks since the new HO policies limiting coverage came into being? it is amazing that when there are no deep pockets no one gets sick. amazing!!
Allstate has been paying this game for years. They pull in and out of markets. While companies do this on rare occasion, Allstate does it like they can care less about their agents or policyholders. No other company plays this game. If you want to be a player in the insurance game, stay away from Allstate.
New Jersey. Allstate rattled about pulling out because of the \”huge fraud\” cases in that state. New Jersey said \”fine\” do it, but take all your business with you including \”Sears\”. Shut down \”dem stores in New Jersey. Impaled upon the horns of a dilemma Allstate then separated itself from Sears and whoosh pulled all the Allstate booths from Sears nationally. I don\’t know if they\’re still operating in New Jersey. Next Mr. Wilson, as he climbs the corp ladder, puts out a letter that read in pertinent part, \”to continue to do the same thing and expect different results is, Yes you guessed it, \”insanity\”. Verbage straight out of every business-university-class across the country. Corporate life is cloak-and-dagger and these fellows must come up with sometin\’ different and profitable to be better than their competing cohorts. In this case, Mr. Wilson goin\’ at it small big-time. Downsize the biz and still retain corp image. Hi-yo Silver, awaaayyy!
I might be more sympathetic to Allstate\’s plight had they not cancelled my homeowners insurance after my first and ONLY claim at age 30, having had Allstate continuously as my insurer for car, boat, and home, from age 18 until then…
I have been with my current insurance co. since then – 38 continuous years – without filing a claim…
C\’mon gang, it\’s the best company to work for. Where else can you work where the company comes in and nonrenews most of your ho biz w/out warning? But the brand recognition is the only think they have left
Allstate has got it right, don\’t insure anyone that has a possibily of having a claim. Gee I\’ve been trying to do that for years. No new HO in Calif, I wonder how long before they figure out how to non renew the Calif HOs.
Allstate gives away homeowner insurance in Tarrant County (Ft Worth), TX the renowned hail capitol of north Texas. Yet in the remainder of the Dallas-Fort Worth Metroplex they are a \”high\” cost insurer. Interestingly, Encompass Insurance (the Allstate owned independent distribution channel) eschews homeowner business in Tarrant County but is very competitively priced in the balance of the Metroplex. One corporation, two different answers. How does Allstate define risk? By type or geographic location?
Maybe the co should change its name to some state insurance. Insurance is about risk and how to manage them. To leave the home market is not sensible, but then in my opinion much of what they have done in the last 7 years makes sense. It would appear that they want to take customers money for insurance and not pay out when hazards occur. If they wish to leave the ho market they should be encouraged to also leave the auto and related risks market. Just my humble opinion
I have posted here before amid State Farm and Allstate public gaffs, and I am amazed that these two companies are still hanging in there. Both of these companies are trying to hang their hats on their agents selling securities, mutual funds, variable life and annuities, and other \”financial services\”. And their advertising now has the guts to try to convince gullible clients to buy from them to get the \”superior service and products from their PROFESSIONAL agents\”. I laugh my butt off everytime that actor in the Allstate commercials says \”that\’s Allstate\’s stand\”, like their company just invented something like a deductible. If any insurance company chairmen or CEOs are reading this, try this on for size: If you are serious about developing your insurance company, how about putting on your boards and staffing your Vice Presidential positions with some of the savviest, best prepared, and effective business people in the WORLD, your independent insurance agents. I am sitting here waiting to puke over the announcement of yet another company\’s new president, a Harvard educated MBA that has never, NEVER, sold an insurance policy and is enjoying his or her $5,000,000 salary and $10,000,000 bonus.
Allstate shifting away from risky business taking years to complete?? WOW! Does this mean the next time I have a claim Allstate will wait a year to cancel my policy instead of two months?
I wonder how \”Allstate Blue\” high risk auto coverage fits into the big picture?
My favorite quote: \”We like the homeowners business — especially without losses from major hurricanes\”
WELL DUH?!?! RIGHT! IT\’S INSURANCE YOU NINNY!! WE EACH TAKE A RISK!!! DDUUHHHH!!
From Allstate to NoRisk. Your independent agents thank you for your business.
i may be mistaken, but didn’t prop 103 bar insurance companies from cherry picking what classes of insurance they could write? i think it said that if they wrote one class of business(auto) they could not stop writing homeowners. I may be wrong so maybe someone could straighten me out on this.
\”Risky business\” – wonder if this includes Texas hail storms?
Maybe we could all start an insurance company, if we had no risk! Might make some money!
What do you mean \”your independent agents thank you for your business\”? Last time I checked a good share of Allstate\’s business was written by independent agents.
Why would anyone want to represent Allstate? They get into and out of business like crazy. One second, they are in the securities business, the next second, they are back in home and auto. This pulling out of lines of business has been going on for years with this troubled company. Notice companies that don\’t practice panic management have done a much better. Next time Allstate offers you some lucrative contract with a significant bonus package, stay away, it will be too good to last.
allstate wants to get rid of their present HO policies because of the wording on wind and flood coverage. they will reenter the market in a year or so with a policy that covers less, is more precisely worded to eliminate most of the ‘bells and whistles’. the new HO policy will roll out with great fanfare and their publicity dept will gear back up at that time. remember the mold crisis? state farm exited the HO market until they came up with a new policy that severly limited the coverage for mold. have you noticed how few people have mold attacks since the new HO policies limiting coverage came into being? it is amazing that when there are no deep pockets no one gets sick. amazing!!
Allstate has been paying this game for years. They pull in and out of markets. While companies do this on rare occasion, Allstate does it like they can care less about their agents or policyholders. No other company plays this game. If you want to be a player in the insurance game, stay away from Allstate.
New Jersey. Allstate rattled about pulling out because of the \”huge fraud\” cases in that state. New Jersey said \”fine\” do it, but take all your business with you including \”Sears\”. Shut down \”dem stores in New Jersey. Impaled upon the horns of a dilemma Allstate then separated itself from Sears and whoosh pulled all the Allstate booths from Sears nationally. I don\’t know if they\’re still operating in New Jersey. Next Mr. Wilson, as he climbs the corp ladder, puts out a letter that read in pertinent part, \”to continue to do the same thing and expect different results is, Yes you guessed it, \”insanity\”. Verbage straight out of every business-university-class across the country. Corporate life is cloak-and-dagger and these fellows must come up with sometin\’ different and profitable to be better than their competing cohorts. In this case, Mr. Wilson goin\’ at it small big-time. Downsize the biz and still retain corp image. Hi-yo Silver, awaaayyy!
I might be more sympathetic to Allstate\’s plight had they not cancelled my homeowners insurance after my first and ONLY claim at age 30, having had Allstate continuously as my insurer for car, boat, and home, from age 18 until then…
I have been with my current insurance co. since then – 38 continuous years – without filing a claim…
C\’mon gang, it\’s the best company to work for. Where else can you work where the company comes in and nonrenews most of your ho biz w/out warning? But the brand recognition is the only think they have left
ALLSTATE INSURANCE …..(except Florida,
Mississippi, Lousianna, Texas, California…….
Maybe SOME-STATE INSURANCE or MOST STATES INSURANCE,,,,,
Allstate has got it right, don\’t insure anyone that has a possibily of having a claim. Gee I\’ve been trying to do that for years. No new HO in Calif, I wonder how long before they figure out how to non renew the Calif HOs.
Allstate gives away homeowner insurance in Tarrant County (Ft Worth), TX the renowned hail capitol of north Texas. Yet in the remainder of the Dallas-Fort Worth Metroplex they are a \”high\” cost insurer. Interestingly, Encompass Insurance (the Allstate owned independent distribution channel) eschews homeowner business in Tarrant County but is very competitively priced in the balance of the Metroplex. One corporation, two different answers. How does Allstate define risk? By type or geographic location?
Maybe the co should change its name to some state insurance. Insurance is about risk and how to manage them. To leave the home market is not sensible, but then in my opinion much of what they have done in the last 7 years makes sense. It would appear that they want to take customers money for insurance and not pay out when hazards occur. If they wish to leave the ho market they should be encouraged to also leave the auto and related risks market. Just my humble opinion