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Allstate to axe 3300 agents
Old 02-03-2010, 01:14 PM   #1
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Allstate to axe 3300 agents

If you have an Allstate agent now, things may change in the future.

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Up to 3,300 existing Allstate agents may be eliminated within the next three years, as the carrier reviews and acts on those agents not meeting specified premium quotas, according to the Chicago Tribune.
Allstate May Terminate 3,000 Existing Agents
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Old 02-03-2010, 03:42 PM   #2
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Perhaps this is how they'll deal with "those agents not meeting specified premium quotas":

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Old 02-03-2010, 05:17 PM   #3
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Thanks for that Purron. GGR is one of my alltime favorite flicks. "get them to sign on the line which is dotted,,,"
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Old 02-03-2010, 05:35 PM   #4
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GGR is one of my alltime favorite flicks.
Me too. Jack Lemmon blew me away. His performance was so haunting and sad. It's on my top 10 list for sure.
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Old 02-03-2010, 08:11 PM   #5
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If you have an Allstate agent now, things may change in the future.
How many agents does GEICO have?

(Trick question.)
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Old 02-03-2010, 08:20 PM   #6
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How many agents does GEICO have?

(Trick question.)
No clue. But never ever ask them for a quote. Or they will send you enough junk mail to keep your fires lit in the cold winter...

Hey now...not such a bad idea..
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Old 02-03-2010, 08:59 PM   #7
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If you have an Allstate agent now, things may change in the future.
Oh fine. People will lose their jobs and I'll have to talk to Darmxelphamaharani more often than I do now when I validate insurance at the court.

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How many agents does GEICO have?

(Trick question.)
Ok..I'm stumped...how many? Does it have anything to do with lightbulbs?
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Old 02-03-2010, 09:40 PM   #8
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Not sure why this is such a huge deal. Insurance agents flame out on a regular basis even in good times. Most insurance companies that run traditional agency forces (not that many these days) are thrilled if 25% of the new agents they hire are still around (and meeting their contract minimums) after 4 years. Its a tough business.
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Old 02-03-2010, 09:51 PM   #9
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Not sure why this is such a huge deal. Insurance agents flame out on a regular basis even in good times. Most insurance companies that run traditional agency forces (not that many these days) are thrilled if 25% of the new agents they hire are still around (and meeting their contract minimums) after 4 years. Its a tough business.
In our last car accident. We lost 2 agents over an 7month period who were supposed to be doing our claim. Funny we got a lawyer and it all got magically working right.

The insurance industry must be an interesting place.

Maybe those were claim adjusters...Aw hell whats the difference. I just lump then in the same boat.
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Old 02-03-2010, 09:56 PM   #10
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We lost 2 agents over an 7month period who were supposed to be doing our claim.
Do you recall where they were when you last saw them?
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Old 02-03-2010, 09:56 PM   #11
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How many agents does GEICO have?

(Trick question.)

0

...but they do have a lizard.
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Old 02-03-2010, 09:59 PM   #12
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Do you recall where they were when you last saw them?

What the lawyers or the insurance devils.. I mean agents..er adjusters..

Oh nm i read closer. The agents were just imaginary while we talked over the phone. Somehow the magical lawyers who took a big cut made them appear!
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Old 02-03-2010, 10:10 PM   #13
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Speaking of an insurance company making cuts...

State Farm cancels thousands in Florida: 125,000 customers to be cut during hurricane season
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Old 02-03-2010, 10:17 PM   #14
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Another "I cannot believe the sun rose again today" article. FL will not allow the insurers to charge an actuarially sound rate, so insurers do not want to do business in the state. The insurers used to have at least the partial comfort of getting subsidized reinsurance from Citizens (state insurance company), but the state recently raided Citizens' reserve fund to plug a hole in the state budget, so nobody trusts the reinsurance any more. Oh, and by the way, state politicians getting into the reinsurance business was a bad idea in the first place, since they were essentially betting the state's solvency against a hurricane hitting FL (which rarely happens as we all know). TANSTAAFL.
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Old 02-03-2010, 10:28 PM   #15
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Oh I would like to apologize if I called all insurance folk devils. I had a bad experience. I know they are all not devils. Just a slip of the fingers in a fit of internet angst.So sorry!
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Old 02-03-2010, 10:43 PM   #16
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Another "I cannot believe the sun rose again today" article. FL will not allow the insurers to charge an actuarially sound rate, so insurers do not want to do business in the state. The insurers used to have at least the partial comfort of getting subsidized reinsurance from Citizens (state insurance company), but the state recently raided Citizens' reserve fund to plug a hole in the state budget, so nobody trusts the reinsurance any more. Oh, and by the way, state politicians getting into the reinsurance business was a bad idea in the first place, since they were essentially betting the state's solvency against a hurricane hitting FL (which rarely happens as we all know). TANSTAAFL.
Finally, something we agree on.
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Old 02-04-2010, 04:22 PM   #17
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Re: GEICO

I don't know if this accurate or not, but it is what I have always believed. When USAA started business it was auto insurance only for military officers. GEICO was created to fill the gap for enlisted folks and civilian employees (Government Employees Insurance COmpany).

When Buffet bought it a few years ago, it became just another P&C insurance company.
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