Underwriting and general service

[Paul H]

So I referred a Mobile Home quote for UW review with American Modern last week and as of today it has still not been reviewed. I've got an auto quote waiting for UW review with Nationwide that was referred closer to two weeks ago.

What is going on with these carriers?! Is staffing so short?

What the hell....

 

[Al3x Lee]

Have you been living under a rock?

 

[Paul H]

Very helpful observation.

 

[Al3x Lee]

Very helpful observation.

I figured it was obvious to anyone working in this industry that we're in the worst P&C insurance market in history. Nationwide, one of the companies you're referring to, is getting off business left and right.

Common sense would assume that blanket price increases, non-renewals and all the other movement happening right now has created increased submissions to underwriting departments. Additionally, the business that is being submitted is under increased scrutiny. The underwriters are being much more cautious and conservative in their underwriting process. There are also capacity issues that have to be weighed, and the outside difficulties for insurers such as the financial markets.

If you're new to insurance then I apologize for my sarcastic comments, but if you've been around the industry, I don't know how you're surprised.

 

[Policy Monkey]

Often times I think "refer to underwriting" is carrier code for "we don't want the risk, but we don't want to tell you that". And if it was referred for an exception to a guideline, don't hold your breath. These days, exceptions are as rare as hen's teeth. I'd say present your next best option. If the referral comes back approved, you can call the client with the good news at that time.

**Hey look, I broke a hundred posts! It only took me 3+ years.**

 

[marindependent]

Agree with @Policy Monkey and @Al3x Lee !

What State are you in?

I would confirm with Am Mod that they are even writing Mobile Homes in your state right now? This sounds super obvious but some software systems are NOT updated with statewide or national holds.

And Yes, this is Stage 10 Property Insurance Metldown - so there is little that can surprise me right now.

 

[Paul H]

Can't even write a simple, straight-forward Renters policy in CA. And the FAIR Plan can't--still--get their shit together to get registered for Duck Creek.

What a G-damn shit-show...

 

[Allen Trent]

So I referred a Mobile Home quote for UW review with American Modern last week and as of today it has still not been reviewed. I've got an auto quote waiting for UW review with Nationwide that was referred closer to two weeks ago.

What is going on with these carriers?! Is staffing so short?

What the hell....

it is simple. They can not write business & make a guaranteed profit of 6-8% on their money. Write business & lose 10-30% like has happened the last few years with higher claims & way higher expenses.

 

[Allen Trent]

**Hey look, I broke a hundred posts! It only took me 3+ years.**

I just reported 2 of your other comments, lets see if they delete them. Just kidding. Congratulations & enjoy the Omaha Steaks they give to members when they hit 100 posts. I hope they still do that, they were delicious

 

[Allen Trent]

Can't even write a simple, straight-forward Renters policy in CA. And the FAIR Plan can't--still--get their shit together to get registered for Duck Creek.

What a G-damn shit-show...

sounds like a perfect scenario to start a new insurance carrier. With the bad offerings & service from existing carriers, it would seem like a new carrier could write record new business......I wonder why none have thought of this