State Farm: Getting out of Dwelling Risks?
Posted: Mon Nov 24, 2008 11:49 am
Twice this week, a current/prospective client has contacted me to tell me that State Farm has sent a Non-renewal Notice for two separate apartment building risks. I have loss runs - they are absolutely clean. One building just had a new roof installed. I have toured the buildings - beautiful, sprinkler systems, in a good neighborhood. Nothing has changed for these properties during the policy term, so that leads me to believe that State Farm is re-examining their books.
Is anyone else seeing State Farm or any of the other captives get out of the apartment/dwelling market? Any State Farm folks on here care to refute this rumor?
I am a producer/broker for a large, regional agency, and the apartment market is my bread 'n butter. State Farm and American Family always seem to be competitive, but much less so lately. Time to hit the phones even harder!
Is anyone else seeing State Farm or any of the other captives get out of the apartment/dwelling market? Any State Farm folks on here care to refute this rumor?
I am a producer/broker for a large, regional agency, and the apartment market is my bread 'n butter. State Farm and American Family always seem to be competitive, but much less so lately. Time to hit the phones even harder!