Improving margins for CA auto is a major issue for clients/agents/carriers. Ricardo Lara, CA Insurance commissioner (political office) thinks he is protecting CA consumers when not allowing auto insurance price increases since 2020!
Many preferred CA drivers are having trouble getting new business quotes! Many key auto insurance carriers are now losing money in CA.
Why should national carriers subsidize CA auto insurance business?.
Good luck getting a rate increase in CA. Not going to happen. Lots of carriers have stopped accepting full coverage business there, and severely restricted liability only. I would not be surprised to see Allstate having layoffs in the near future. They already sold their Northbrook headquarters. Then it will be commission cuts
I sense a little mayhem at work.
Approximately 25% in CA, NJ, and NY . . . no chance on improving margins. Good luck!
Improving margins for CA auto is a major issue for clients/agents/carriers. Ricardo Lara, CA Insurance commissioner (political office) thinks he is protecting CA consumers when not allowing auto insurance price increases since 2020!
Many preferred CA drivers are having trouble getting new business quotes! Many key auto insurance carriers are now losing money in CA.
Why should national carriers subsidize CA auto insurance business?.
Good luck getting a rate increase in CA. Not going to happen. Lots of carriers have stopped accepting full coverage business there, and severely restricted liability only. I would not be surprised to see Allstate having layoffs in the near future. They already sold their Northbrook headquarters. Then it will be commission cuts
I agree, except that you’ll probably see commission cuts first!
If they would just pay legitimate claims instead of forcing things into litigation, they’d save on defense attorneys AND save from big verdicts.