Liberty Mutual

[Vision]

I'm interviewing for a B2B P&C position with Liberty Mutual. They say it has a nice base along with commissions.

Anyone have any experience with LM? Thanks

 

[UH fan]

Good company. Hope you're not going to work in the Pacific Division. New management are backstabbers. Stay away from Pacific Division.

 

[Alan Cottrill]

I have worked for LM's Personal Markets in the pacific region for 9 years. Awesome company to work for. Great place to build a career.

Is the position you're interviewing for in the Personal Market or Commercial Market?

 

[BKrocko]

I know that out here in CO, they brought in some young hot shot gun slinger MBA who made sure the agents knew there was a "new sheriff in town". He has gotten rid of many agents who were not what he considered team players - including managers. The sales volume has not significantly increased over the past two years - and many of the top producers have left for greener pastures due to the pious attitude of upper management.

How do I know this? Because 3 of the people that left are friends of mine.
One of them was a manager with the company - worked for them about 20 years. Now he is going indy - it's a shame, 20 years and not a single client is his to keep. CAPTIVE SUCKS.

They should look at their rates and underwriting requirements for lack of production more than the behavior of their employees. My other friends who are P&C brokers love to see a LM policy because they know they can blow it away with the same or better coverage.

Their Life products are nothing special - they can easily be beat as well.

 

[insureagent]

aah, nice base.. Beware of he who bring's gifts.. I guess thats the trade, $$$ up front for selling your soul or in this case your BOB near the end.

Captive does suck, but being poor and independent sucks even more!

 

[theinuranceguy]

aah, nice base.. Beware of he who bring's gifts.. I guess thats the trade, $$$ up front for selling your soul or in this case your BOB near the end.

Captive does suck, but being poor and independent sucks even more!

I would argue that being poor and captive sucks much more than the pits of hell.

 

[xrac]

Liberty Mutual CEO Criticizes Federal Bailout of AIG.

Comtex News Network - Liberty Mutual CEO Criticizes Federal Bailout of AIG

Kelly said Liberty Mutual avoided losses in the financial market because the company got out of the public equity market, a strategy that was "clearly the right decision," he said. Liberty Mutual "wouldn't touch" collateralized debt obligations. It also investigated hedge funds but "didn't want to invest in something we didn't understand," Kelly said

 

[Ron Van D]

When I worked for LM the business side was definately the favored child. We, in the personal lines market, were the red-headed step children.

 

[Cali_jake]

What is a nice base??
How much and what is the commission rate??
Thanks

 

[jamesflou]

Well Cali Jake a base salary in insurance is only as good as the producer. Meaning that if you don't equal or exceed that base in new business you will not be there long. If you are new in the business you may be able to get a 400 or 500 dollar base contract which you will have to validate with production. Validation periods are usually about 3-6 months long. Commission usually around 50% of annualized premium after issue of business and all going into an accumulation fund during your contract validation. You may be able to qualify for bonuses during this period but your weekly income will be limited.