Are Independent Agents In Good Hands With Allstate?
Reports of the death of the independent agent in personal lines are greatly exaggerated. That’s the clear message sent by direct writing behemoth Allstate when it announced its blockbuster acquisition of the personal lines business of CNA Financial Corp., which generated some $1.7 billion in premiums last year through its network of 3,800 independent agents in 43 states. After having been written off repeatedly by doomsayers, independent agents should take heart from Allstate’s move. They should also be inspired by the direct writer’s bold declaration that it intends to become the leading provider of personal lines for independent agents. This is a classic case of “If you can’t beat ’em, join ’em”–or perhaps more to the point in this acquisition-crazed…
