Kemper P&C exiting countrywide

[NY independent]

I guess we all saw this coming with them losing hundreds of millions of dollars over the last few years. My concern is that even after the massive rate increases, the carriers are still getting skinned alive. Granted, they haven't earned in yet fully, but prospects are scary. In NY, Kemper is a big player so it's going to be a bear to find a new home for these non-renewals especially when nobody wants the business. I was hoping that 2024 would be better for P&C but it's not looking good. Maybe I can run a charter fishing business down south (but I might not be able to afford the premiums lol)?

 

[RickyG]

so it's going to be a bear to find a new home for these non-renewals especially when nobody wants the business

Welcome to my life writing policies in CA & NV the last 3 years. I feel 70% of my every workday is requoting current clients due to non-renewal and massive rate increased clients. It started in 2019 with Swyfft, since then it's just been one after the next with monoline home companies and several auto carriers.

 

[marindependent]

prospects are scary. In NY,

They are super scary here in Califoria. God Knows what is going to happen in Hawaii - @Hawaii Agent and my sense is Oregon might not be too far behind.

my life writing policies in CA & NV the last 3 years. I feel 70% of my every workday is requoting current clients due to non-renewal and massive rate increased clients.

Me too! - although consumers that complain about massive rate increases really do not have options.

Here is a Quick Link to a news article on the subject: Kemper exits preferred home and auto insurance, from Insurance Business Mag.

 

[m102269]

Oregon might not be too far behind.

I keep telling my policyholders this yet they act befuddled. Definitely going to be a lot of people in denial once the wave hits Oregon lol

 

[Policy Monkey]

I keep telling my policyholders this yet they act befuddled. Definitely going to be a lot of people in denial once the wave hits Oregon lol

I find this as well. Everyone understands when you explain it in general terms, but when it actually hits their wallet, suddenly none of it makes sense.

 

[Markthebroker]

I find this as well. Everyone understands when you explain it in general terms, but when it actually hits their wallet, suddenly none of it makes sense.

OMG that is so funny and spot on.

 

[wolf5150]

i thought only "preferred" Kemper home & auto being discontinued.

 

[marindependent]

Here is a Better Article about it from Ins Journal:

"Kemper Corp. said Monday that it is exiting the preferred home and auto insurance market....
Eight underwriting companies handled the Kemper's preferred home and auto business, comprising about $500 million of written premium. Kemper Auto, the company's specialty auto business, and Kemper Life will not be impacted."

 

[Markthebroker]

Here is a Better Article about it from Ins Journal:

"Kemper Corp. said Monday that it is exiting the preferred home and auto insurance market....
Eight underwriting companies handled the Kemper's preferred home and auto business, comprising about $500 million of written premium. Kemper Auto, the company's specialty auto business, and Kemper Life will not be impacted."

Safeco is non renewing most or all of homeowners insurance in Ca, right?

How much of the market are they?

 

[marindependent]

Safeco is non renewing most or all of homeowners insurance in Ca, right?

How much of the market are they?

You mean this?