Nationwide Insurance=Lehman Brothers

If I remember correctly, Aetna C&S (remember them?) "bailed out" Geico because they didn't want to write any of that business if it were to hit the streets. They were a major P&C player back then.
 
It is a reinsurance problem. No one has enough reinsurance this year. They have to lower their in force risk to align with capacity. It is industry wide and dangerous.

Yes and Yes! Great opportunity for us. Even though I am deeply annoyed... by businesses are doing very well. Great opportunity for us agents to put our heads together and actually create good programs and businesses. We need to stop just following the market and start creating the market.
 
We don't need to create markets. We need to create new products that people can afford. Carriers need to smarten up. ACV property policies, Lower PIP limits, get rid of UM, carriers should buy parts directly from the OEM (no middle man) and they should own the body shop to control costs. Carriers should buy building materials directly from manufacturers like Georgia Pacific, Andersen, Owens Corning, lumber mills, etc. There are too many hands in their pockets and too much gouging and fraud. Let the lawsuits fly but it will be a lot cheaper for all of us. Carriers can still offer the top tier policies at the higher pricing for those that want Rolls Royce stuff but they should offer these basic plans for others looking for massive savings.
 
We don't need to create markets. We need to create new products that people can afford. Carriers need to smarten up. ACV property policies, Lower PIP limits, get rid of UM, carriers should buy parts directly from the OEM (no middle man) and they should own the body shop to control costs. Carriers should buy building materials directly from manufacturers like Georgia Pacific, Andersen, Owens Corning, lumber mills, etc. There are too many hands in their pockets and too much gouging and fraud. Let the lawsuits fly but it will be a lot cheaper for all of us. Carriers can still offer the top tier policies at the higher pricing for those that want Rolls Royce stuff but they should offer these basic plans for others looking for massive savings.
Great ideas, however, most of this would be almost impossible. Half of the companies that offer polices are not big enough to work deals like this with manufacturers. This is almost like trying to get congress to vote for term limits. I don't see this happening with the exception of ACV property. I'm not a visionary though.
 
Carriers need to smarten up. ACV property policies,

Great ideas, however, most of this would be almost impossible. ~ with the exception of ACV property.
I'm not a visionary though.

Al3x Lee here, also known as ACV Alex, a name you'll remember because I'm a visionary. You've hit the nail on the head; ACV property insurance is the big, bold solution to the insurance mess – and nobody knows better than me, believe it.

When I say ACV, I'm talking about a strategic powerhouse, hitting industry problems like a wrecking ball. ACV isn't just insurance; it's a tremendous tool for winning, and I've always been a winner.

Now, you've got these folks shaking their heads, saying, "Oh, ACV, is it really the answer?" Well, let me tell you, these detractors, they're like yesterday's news. ACV is the future, and they're still stuck in the past. They just can't see the strategic brilliance we're bringing to the table. But you know what happens to detractors? History shows they end up eating their words. ACV is on the rise, and we're not slowing down for the naysayers, not one bit.

I hope to count on both of you to tell the public that ACV is the future of property insurance.
 
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After all the non-renewals I have seen this week from Nationwide they have to be failing. I guarantee they are heavy in long-duration bond and possibly even leverage funds that buy long dated bond and they must be having to sell these to pay claims. The policies they are non-renewing don't make any since unless you were to be failing. The federal government is going to have to bail them out if this keeps going. Its only a matter of time before the run out of money. If they were a public company we would already know this by now.
 
After all the non-renewals I have seen this week from Nationwide they have to be failing. I guarantee they are heavy in long-duration bond and possibly even leverage funds that buy long dated bond and they must be having to sell these to pay claims. The policies they are non-renewing don't make any since unless you were to be failing. The federal government is going to have to bail them out if this keeps going. Its only a matter of time before the run out of money. If they were a public company we would already know this by now.
Maybe. But Nationwide's financial services business is larger than their P&C business and that business has been great this year.

Anything can happen but maybe they're trying to get out of the P&C market altogether.
 
MIGA1626, I was fascinated reading this thread, but must ask you why you thought it appropriate? The stability and ongoing fitness of any company, let alone an insurance company, is of utmost importance. Your thread starts out by equating Nationwide to one of the biggest bank collapses in recent history. You make a few statements to support your thesis, using language than can be construed as authoritative (I guarantee they are heavy in long-duration bond and possibly even leverage funds that buy long dated bond and they must be having to sell these to pay claims. The policies they are non-renewing don't make any since unless you were to be failing.) to assist with advancing your position. Yet nowhere do you provide any facts to support, rather it is all done with opinion. In fact there are a few times you throw your hands up and admit to a lack of information because they are private.
 
Nationwide is not close to going under. They may be restricting new business but they are far from the descriptions above.
 
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