I am an independent agency owner in SW Florida, have built a pretty nice Agency in 3.5 years after purchasing a junky book. I inherited a Nationwide/Allied book with a loss ratio problem and have taken one for the team trying to improve the book which means having a lot of the business non renewed. Nationwide threatened my contract this past Wednesday because the book has shrunk (non-renewing bad business), our production with them is down, and we had a major claim that spiked the loss ratio this past month. I took a 238% loss ratio in late 2011 to a running 50% for the past 3 years. On top of getting rid of bad business, Nationwide/Allied in our area in not competitive, if we had to rely on writing business with them only we would starve. In 2012 we wrote 108 new policies , 2013 138 new policies, 2014 50, and only 11 so far in 2015. Since the end of 2013 with the name change to Allied, back to Nationwide in 2014, the new auto company that never was, feel Nationwide has been a disaster and it has hurt our book with them.
My long winded 2 part question. When I purchased the agency, III also came along with the book, we have built a good sized book through appointments with III. Does anyone know if I were to lose Nationwide, would I also lose III? I was under the impression III was a separate entity. Also, has anyone else experienced problems with the Nationwide/Allied brand?
Thank you in advance!
My long winded 2 part question. When I purchased the agency, III also came along with the book, we have built a good sized book through appointments with III. Does anyone know if I were to lose Nationwide, would I also lose III? I was under the impression III was a separate entity. Also, has anyone else experienced problems with the Nationwide/Allied brand?
Thank you in advance!
