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End of a Dynasty

Old 06-08-2015, 04:52 AM
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Default End of a Dynasty

Ed Rust Jr-- State Farm CEO will be stepping aside to allow a former lawyer Michael Tipsord take the reins.
Having State Farm Insurance, I cant help but wonder how this will affect ME. What changes are in store? Will I now see a premium decrease?

How many communities were affected by the closing of offices to open these hubs in the Atlanta, Ga., Phoenix and Dallas metro areas?


http://www.pantagraph.com/business/s...8d9535320.html

http://www.wjbc.com/2015/06/04/state...p-down-as-ceo/
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Old 06-08-2015, 05:07 AM
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they've been doing the hub thing for YEARS.
They eliminated a ton of offices in FL and opened up a major ops center in Winter Haven a while back. Maybe 10 years ago now.

I wouldn't expect major changes. CEO's don't make random underwriting decisions.
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Old 06-08-2015, 05:33 AM
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Originally Posted by chimmike View Post
they've been doing the hub thing for YEARS.
They eliminated a ton of offices in FL and opened up a major ops center in Winter Haven a while back. Maybe 10 years ago now.

I wouldn't expect major changes. CEO's don't make random underwriting decisions.
Isn't the Florida operation a separate entity from the main company?
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Old 06-10-2015, 08:47 AM
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The Rust's have managed the company from the very beginning. They have had to make a lot of decisions in that time and most have been right and a very few wrong but all in all they are batting around 995 which is outstanding.

It is no secret that they want to move out of Illinois for many reasons. I suppose the oppressive taxes and environment in Illinois are among them. They are the very biggest Auto Insurer and their size dictates that they find the most efficient way to structure and run the company. My guess is they have not found it yet but will keep on looking. The process is evolving and on going. Believe me when I say they are way ahead of most if not all other companies out there.

They are a very financially sound well managed company and they will invest the money in anything that might help them in their business. They know how to make hard decisions. For example they wanted out of the boat business in some areas of Florida. How do you do it??? These areas are hopeless as far as ever making a profit is concerned. It would be hard to simply cancel vast numbers of policies. The answer is you raise the rates and people leave your company. Its that simple.

It will be interesting to see how the new management team will handle the job........
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Old 06-10-2015, 08:54 AM
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Originally Posted by Picaroon View Post
The Rust's have managed the company from the very beginning. They have had to make a lot of decisions in that time and most have been right and a very few wrong but all in all they are batting around 995 which is outstanding.

It is no secret that they want to move out of Illinois for many reasons. I suppose the oppressive taxes and environment in Illinois are among them. They are the very biggest Auto Insurer and their size dictates that they find the most efficient way to structure and run the company. My guess is they have not found it yet but will keep on looking. The process is evolving and on going. Believe me when I say they are way ahead of most if not all other companies out there.

They are a very financially sound well managed company and they will invest the money in anything that might help them in their business. They know how to make hard decisions. For example they wanted out of the boat business in some areas of Florida. How do you do it??? These areas are hopeless as far as ever making a profit is concerned. It would be hard to simply cancel vast numbers of policies. The answer is you raise the rates and people leave your company. Its that simple.
It will be interesting to see how the new management team will handle the job........
LOL. Companies have been doing that for as long as I can remember and long before FL boat market became a concern.
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Old 06-10-2015, 01:31 PM
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I see a gap in the market for:

YETI® Insurance
Less Coverage, More Cost™¸
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