Tag: independent agents

Liberty Mutual’s Big Move: Why Safeco Insurance Is Retiring After 100 Years

H. Cutner
Liberty Mutual

Safeco Insurance to Retire Brand Name by 2026, Liberty Mutual Consolidates Personal Lines Under Its Banner The insurance industry is undergoing another round of transformation, with Liberty Mutual Insurance announcing plans to retire the Safeco Insurance brand name in 2026. Safeco, a name synonymous with the independent agent channel for home, auto, and specialty insurance, will no longer serve as a standalone identity. All of Liberty Mutual’s personal lines products will instead operate exclusively under the Liberty Mutual name. Safeco’s Legacy of Strength and Partnership Since its founding in 1923…

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Why Allstate Is Dodging Florida and California in Its Expansion Plans

Nordstrom
Allstate steering clear of Florida and California

Allstate’s New Focus Does Not Include California and Florida In a significant strategic move, Allstate is positioning itself to capitalize on growth opportunities in the homeowners insurance market by focusing on lower-risk areas, consciously steering clear of Florida and California. This decision aligns with the company’s commitment to maintaining profitability while navigating the increasing challenges posed by severe weather events and inflation. Navigating the Risk Landscape Allstate’s decision to avoid expanding its homeowners insurance market share in Florida and California stems from the heightened risk of weather-related losses in these…

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Allstate Insurance Faces Defeat in Court Over Telemarketing Calls

Nordstrom
Allstate Insurance - Telemarketers - Law - Defeat

In a consequential ruling that will undoubtedly reverberate through insurance and telemarketing industries, Allstate Insurance has been found in violation of the Telephone Consumer Protection Act (TCPA) in a complex network of agencies and subagencies that ultimately led to unsolicited marketing calls being made to consumers. The case, titled Hossfield v. Allstate, 2024 WL 1328651, was decided on March 28, 2024, by the Northern District of Illinois court. Overview of the Judgment With an intricate chain of lead generation and marketing agencies involved, Allstate faced accusations stemming from actions unwittingly…

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InsuranceBee and Hiscox launch insurance agent partner program

PR Article
InsuranceBee and Hiscox launch insurance agent partner program

Agent portal provides instant access to markets with no fees, long-term contracts, or quotas A new insurance agent partner program is being launched today to give independent agents instant access to general liability, professional liability and business owner’s policies. The program, ‘InsuranceBee for Agents’, is a partnership between Hiscox and small business insurance broker, InsuranceBee, and will cover more than 180 professions. The easy-to-use portal enables agents to quote and bind online within minutes, with competitive commission rates which are earned for the lifetime of the policy. Benefits to agents…

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Minnesota insurance agents concerned over commissions and a health insurance exchange

Health Insurance news abortion rape

Insurance agents voice their concern regarding exchange system Minnesota is making progress on establishing its own health insurance exchange, but the state’s plans have sparked concerns amongst insurance agents. Independent insurance agents have come together to make their concerns heard by state officials. The majority of the state’s health insurance is sold by these independent agents, who are worried that a health insurance exchange will make deep cuts in their commissions. If these concerns are justified, an insurance exchange could present a serious financial problem for Minnesota agents. How insurance…

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The Hartford to expand auto insurance to more AARP member with the help of independent insurance agents

The Hartford, one of the largest insurance providers in the U.S., has announced plans to expand the accessibility of auto insurance to AARP members. In order to do this, the insurer will have to expand its base of producers. This will be done through a hiring surge, where the insurer will look to bring on new staff and agents capable of bringing auto insurance coverage to those looking for additional options. The company currently has 4,000 agency locations throughout the country and hopes to increase that number to 6,000 by…

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Consumer Agent Portal announces new online resource to connect independent agents with consumers

As the provisions of the Affordable Care Act begin to come to fruition, the role of independent insurance agents is becoming more vague. In an effort to embolden independent agents, the Consumer Agent Portal LLP, a coalition of property/casualty insurers that support independent agents, has launched a new online resource system that is designed to give agents access to the 65% market share they are missing out on. The system will take advantage of the growing electronic market, which is becoming a major playing field in the world of insurance…

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