Up to 3,300 existing Allstate agents may be eliminated within the next three years, as the carrier reviews and acts on those agents not meeting specified premium quotas, according to the Chicago Tribune.
Jim Fish, executive director with the National Association of Professional Allstate Agents, (NAPAA) a nonprofit organization that serves Allstate’s agent base, told Insurance Networking News, "we believe Allstate is planning to eliminate between 3,200 and 3,300 agents by 2013. When agencies are eliminated so is the agency staff, many of whom are also licensed. Therefore, the total number of existing jobs lost could top 9,000, depending on how many working spouses and staff members are affected." With 14,700 exclusive agencies and financial representatives, Allstate wrote premiums of $26.6 billion, or $1.8 million an agency in 2008. That was down 2% from 2007, a trend Allstate blamed on declining new car sales, a weak housing market and tough competition, reports the Tribune.
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