What’s in your future?
Farmers is interested in YOUR future plans…We have heard reports and seen emails where Farmers is asking if you have an “Agency Succession Plan”. The communications ask if you are prepared if you don’t make it to work one day, if you are diagnosed with an incurable illness or if you just want to retire.
The “Agency Succession Plan” form we have seen asks agents their Succession Timeline (90 days, 1 year, 3 years, 5 or more years) and their Succession Plan (Contract Value, Family Rights Provision – which family member, Outside Acquisition).
If you are presented with this questionnaire, or really anything from Farmers, be careful what you say and stay positive. Tell them you have no intention of leaving in the immediate future and you are as positive as positive can be.
Have you received this questionnaire? Did you fill it out?
UFAA received a call from an agent that was talking to underwriting about towing and the Underwriter asked “Who do you have your E&O with?” When asked why they needed to know, the underwriter said that they had to ask the question. There was not a claim being made.
UFAA would like to know if Farmers has asked you inappropriate questions about your E&O coverage or anything else that may concern you.
A very disturbing activity is happening with Farmers. We have learned of several instances where a Farmers Agent has submitted their 90 Day Resignation Letter and during the 3 month period prior to the actual termination date Farmers is calling current customers. Farmers is informing the insureds that the agent is no longer with the organization and that if they need assistance they can call 1-800 FARMERS or one of the other many 800 numbers they have.
This action is causing premature attrition resulting in an ultimate reduction in contract value being paid and harm to the retired agent.
If this activity has happened to you or someone you know please report it to UFAA even if you are a non-member.
Did Your E&O Rate Go Up Again?
Depending on your state, the premium for your E&O renewal may have gone up by as much as 30%. Agents who switch to the UFAA plan save, on average, over $500 a year.
And saving money is just the start.
Many Farmers agents are insured by a policy that excludes an E&O claim for failing to provide an available Farmers coverage and your deductible waiver may be voided unless you can prove you inspected the risk as required.
Get the coverage you pay for!
Enroll now in the UFAA plan for a January 1st effective date.
The deposit payment won’t be collected until January 3rd!
Order your current loss history today by calling 866-893-1023, then click the link below to:
United Farmers Agents Association E&O plan website (www.groupeando.com)
If you prefer, you may complete the Quick Quote Form for a same day quote.
For more information, call Kevin Dahlke at (619) 287-8613.
The products/plans advertised herein are not sponsored, approved, endorsed by, or otherwise affiliated with, Farmers Group, Inc.
The Voice is now available on the Members Only section of the UFAA website.
Chapters hold elections for local Chapter Officers and Delegates during the 4th Quarter. Keep an eye out for your chapter’s notice of elections.