Allied/Nationwide

[marindependent]

Yep commission rates are falling all over the place.

 

[dean8287]

Sorry for the delay on my response. I was on the road for a few days. We are located in PA. Agencies under $5,000,000 in premium are having renewal commission changing from 15% to 10%. Agencies over $5,000,000 in premium are having renewal commission changing from 15% to 12%. This is real and was sent as an official message from the company. We are an Allied/Nationwide agency independent with a direct appointment. It is across the board change as they Brand Harleysville, Nationwide, and Allied together under the Nationwide name.

 

[FL P&C Broker]

That's a huge pay cut.

 

[AZDave]

That Sucks. Boooo!

 

[insurance1822]

I thought loser Nationwide captivesonly renewed at 12% anyway (at least the newer contracts??) This is a serious hit to OUR industry. I wish agencies were most closely connected so we could push back against this.

How many Nationwide agents built profitable books & they're taking a pay cut now? I am so SICK of this!!! This will put many agents out of business.

unacceptable.

we must start retaliating

 

[Herkster]

So, is this all east of the Mississippi, where it's mostly Nationwide Exclusive agents? I haven't heard anything yet here in Iowa in regards to this. We've been AIDCO since 1993, and writing with Allied since they were AID (terrible, terrible name!).

 

[insurance1822]

^So shawn why doesn't PGI just say "done" and move all business? How do you guys accept these especially if you're giving them good business? From a group leadership stand, wtf gives here?

I do not say this jokingly (and this is why I'm not a carrier/group/corporate guy..) how do you not send the rep a bag of dogsh*t and tell him you're done...if they step foot in your office it will be a street fight? What does Allied offer your group at this point that you tolerate this behavior?

 

[shawnmwalker]

As you stated above, much of what will happen will happen outside of your SIAA group. A carrier announcing a comm drop is not the end of the conversation and certainly does not require a bag of Do&$!T or a street fight.

 

[whatyouwantfinally]

^So shawn why doesn't PGI just say "done" and move all business? How do you guys accept these especially if you're giving them good business? From a group leadership stand, wtf gives here?

I do not say this jokingly (and this is why I'm not a carrier/group/corporate guy..) how do you not send the rep a bag of dogsh*t and tell him you're done...if they step foot in your office it will be a street fight? What does Allied offer your group at this point that you tolerate this behavior?

Similar thoughts here. Same situation with State Auto (only new business on their new platform). I only hear from my SIAA master agency, but the message we get is, "Reduced commissions are inevitable, being with us will soften the blow." There's never any talk of push back, but constant charts and pie graphs indicating we have the muscle to do so.

Maybe there IS a leadership niche Donald Trump is fit for.

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As you stated above, much of what will happen will happen outside of your SIAA group. Much of what will unfold across the nation in the main segment of the distribution channel will be a drop. A carrier announcing a comm drop is not the end of the conversation and certainly does not require a bag of Do&$!T or a street fight.

I'm with SIAA and we got the reductions from both Allied/Nationwide and State Auto. Maybe not as big, but we still got them.

In your experience, how much (if any) resistance is there to this from group leaders? Obviously fights and pranks are out, but how does the conversation go with leadership when this call from a carrier comes in?

 

[DJAJ]

If a carrier wants to reduce commission going forward because it will allow them to be more competitive and stable then fine. That's at least what I got from State Autos announcement. You then have a choice to write with them or not. However, reducing existing renewals is some bs.