Justin Klingler

P&C Insurance

[Justin Klingler @AmFamJustin]

BREAKING: A.M. Best has reaffirmed American Family Insurance's 'A' (Excellent) financial strength rating with a "stable" outlook for the 21st consecutive year.

Additionally, an issuer credit rating of 'a+' was affirmed for the sixth year in a row.

These ratings encompass American Family Insurance Group and American Family Life Insurance Company, reflecting our solid operating performance, balance sheet strength, favorable business profile, and effective enterprise risk management

[Justin Klingler @AmFamJustin]

@fishdog16457 Nice! Basically first class without the warm towel.

[Justin Klingler @AmFamJustin]

What I see when I travel across Washington.

Do you see it too?

@amfam @AmFamCareers

[Justin Klingler @AmFamJustin]

We spent this last weekend recognizing our top life insurance agency owners. It was such a great time! @amfam

[Justin Klingler @AmFamJustin]

Loyalty is built in turbulence.
Engage customers to boost retention.

[The Insurance Letter @InsuranceLetter]

BREAKING: 1 Million+ More Uninsured Vehicles as Insurance Costs Spike 🚨

Per J.D. Power, 5.7% of households with a car now lack insurance, up from 5.3% last year.

12.5% are shopping for cheaper policies, an all-time high.

12 states saw uninsured rates rise 30%+ between late 2022 and early 2023. SD and NH topped 80% increase.

What you can do: Review uninsured motorist coverage given rising uninsured risk. Loyalty is built in turbulence - engage clients to boost retention.

Source: J.D. Power auto #insurance intelligence report

[Justin Klingler @AmFamJustin]

Brothers don't shake hands. Brothers gotta hug!

[American Family Insurance @amfam]

Life's better when you bundle the things you love under our roof. https://t.co/wvMXB6Yuy2

[Justin Klingler @AmFamJustin]

P&C industry urged to brace for $100B disasters

Experts say climate change is fueling more costly storms, with a single event hitting $100B not out of the question.

Insurers need to embrace newer risk models and raise premiums.

[Justin Klingler @AmFamJustin]

Tropical Storm Hilary could cause $9B in damage

The storm caused flooding in California and Nevada. Insurance companies could see big losses.

State Farm and Farmers could potentially see the biggest impact from Hilary as the two carriers have the highest market share in CA

[Justin Klingler @AmFamJustin]

In Louisiana, 9 #insurers have gone insolvent, and 12 exited the market in 2 years.

Some large companies have pulled out of California recently. Are you surprised to not see CA on this list?

[Justin Klingler @AmFamJustin]

The 10 states with the worst average homeowners loss ratios from 2018-2022, per P&C Specialist:

10: Nebraska 76.7%
9: Montana 78.2%
8: Arkansas 78.5%
7: Colorado 83.4%
6: Oregon 84.5%
5: Florida 86.5%
4: Minnesota 91.3%
3: South Dakota 93.4%
2: Iowa 113.2%
1: Louisiana 155.7%

[Justin Klingler @AmFamJustin]

Agents, we are critical in times like this!

Per WSJ, 12% of homeowners now lack property coverage.

Per Nationwide: 2/3 of 🏠 policies underinsure the home's value.

American Family agents provide localized care, education, and guidance when stability matters most. 🤝

[Justin Klingler @AmFamJustin]

CEO Raul Vargas cited "macroeconomic challenges" and the need to restructure to put Farmers in a better position going forward. 2/5

[Justin Klingler @AmFamJustin]

🚨BREAKING: Farmers Insurance has announced plans to cut 2,400 jobs, which is 11% of its workforce. 🧵 1/5