Should I apply to be a State Farm agent??

[dahonored1]

Hey guys, went independent for a while but seems like markets in NYC is winding down and can’t seem to find a place to write property business. Thinking about switching over to state farm or something and possibly start writing auto insurance as well. What do you guys think??

 

[shawnmwalker]

Probably: [EXTERNAL LINK] - State Farm Sets Another Record With $14B Underwriting Loss in 2023

 

[NY independent]

State Farm is not writing much here in NY. Don't waste your time. Open Shawn's link. After that news, it will likely be harder. Auto markets are largely closed or VERY selective here. It's no fun being a retailer in NY the last couple of years. Wholesalers are doing very well as most new commercial lines business goes E&S. A small growth area is NYAIP (assigned risk) as non-standard auto is almost non-existent in NY, but it's a very difficult process to administer.

 

[marindependent]

NYC is winding down and can’t seem to find a place to write property business.

Specialize in nonadmitted options.