Pekin Insurance
- Thread starter ruxCYtable
- Start date
IMT put a temporary pause on writing new home owners policies in Iowa, that’s all.
With the vast majority of people wanting to bundle, for all intents and purposes that means everything.
I am in the industry so I have got to assume it is a means to reduce their exposure in Iowa. It’s an Iowa based company that uses independent agents to write their business so it really looks like a last resort kind of thing.
They used to be a great company. They performed very poorly after the 2020 storms. Our Pekin territory rep told us in 2017 they intended to focus on their commercial and life insurance businesses and in his exact works, "Let our personal lines business die on the vine." We stopped writing new business with them way back then, and over the past couple years have actively encouraged our clients to switch, fearing this was coming.
Yeah I told them to quit ******* calling me, it I need my roof fixed I call them.
Wind & hail. Flooding is not an issue, as that insurance is offered through FEMA/NFIP.
The guy talks as if it is the contractors that are charging too much for roof claims, but it is a two way street. When I had hail damage a few years back, all the contractor wanted to know was what the claim amount the insurance signed off on. That tells me that the the insurance companies are already paying out too much without any help from the contractors.
I don't know if you've had the same insane underwriting turnover that we have but there's something up there that goes way beyond loss ratio.
We had Celina, I had to hire a public adjuster and a lawyer to get them to pay for our derecho damage. They dropped us after it was all said and done, before we even got around to dropping them. Not a good experience, I'm guessing they were just saying no to claims to try and save what $ they could before pulling out of Iowa.
How do the squares line up? Are they the size of like 4 shingles so you can screw them on the bottom sides of the shingles?
1983 thru 2003. Huxley got too big for its britches, kids were gone, we bought an acreage.
IMT was never our first choice, but they were a valued partner when we needed them. With our new company additions it is not a huge loss, but we liked having an Iowa-based company in our arsenal.