FB has been buying business and severely undercutting other carriers for years, and now they’re seeing the fruits of their work – nonrenewals of monoline property and rentals, large losses, and now this big credit downgrade. They thought the price hikes across the board were an opportunity for a windfall, rather than a warning of tougher times ahead.
This suprises me with the track record they have of denying claims. There is a website dedicated to their claim paying. They try to get out of paying so many, thought they would have super credit rating.
you are correct, each state having a Farm Bureau Organization has it’s own insurance company. Some go by different names than Farm Bureau Insurance, such as Farm Family, Cotton States, etc. But they are “owned” by the Farm Bureau organization in their state.
That is not a website dedicated to their (Missouri FB)claim paying. It is a website set up by one disgruntled claimant. Wonder what the insurance company would say?
The current management of the company has caused this once great company’s fortunes to falter. It is hard to believe their board has not shown them the door and the sooner they do possibly they will rebound.
This company is terribly slow to service claims in a catastrophe situation. You will be sitting on your porch waiting for them to come to your house after a disaster for days.
FB has been buying business and severely undercutting other carriers for years, and now they’re seeing the fruits of their work – nonrenewals of monoline property and rentals, large losses, and now this big credit downgrade. They thought the price hikes across the board were an opportunity for a windfall, rather than a warning of tougher times ahead.
This suprises me with the track record they have of denying claims. There is a website dedicated to their claim paying. They try to get out of paying so many, thought they would have super credit rating.
http://www.farmbureaulies.com/
Missouri FB and NC FB are two totally different entities, IIRC. I think each state Farm Bureau is independent of the others.
NC P&C Agent, you are correct They are totally different entities, from state to state.
you are correct, each state having a Farm Bureau Organization has it’s own insurance company. Some go by different names than Farm Bureau Insurance, such as Farm Family, Cotton States, etc. But they are “owned” by the Farm Bureau organization in their state.
That is not a website dedicated to their (Missouri FB)claim paying. It is a website set up by one disgruntled claimant. Wonder what the insurance company would say?
The current management of the company has caused this once great company’s fortunes to falter. It is hard to believe their board has not shown them the door and the sooner they do possibly they will rebound.
This company is terribly slow to service claims in a catastrophe situation. You will be sitting on your porch waiting for them to come to your house after a disaster for days.