Post Date April 16, 2012 – Auto Insurance Companies are very enthusiastic regarding the premium generation this year even though 2011 was a very difficult year. Where profits were exceptional in earlier years, auto accidents spiked in 2012.  One good sign this year is increased premium.  Auto Insurance Rate collection has been much higher since auto insurance companies have been focused on hiring sale field staff to expand car insurance agent representation.  Based on a recent car insurance company study, over half of all car insurance carriers nationwide are planing to add extra insurance agent representation. The study involved over a hundred car insurance carriers including 62 regional auto insurance carriers and 50 national and international carriers. 87% of the study were property and casualty insurers. An interesting statistic is the average number of employees in regional Auto & Home Insurance companies is about 800, while national and international  Auto & Home Insurance carriers have a combined average of 2,755 workers.  19 % of insurance providers plan to cut staff members, while 30% will support their current workforce, according to a recent market survey. The reasons cited for staff redundancies among insurance companies are automation, restructuring and streamlining of operations.

-Mike

Michael E. Dortch
President &  Managing Agent
InsureDirect.com
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania  19446
(800) 807-0762  ext. 602