Who’s Most Generous With Salaries? | Allstate Agent Commission Cuts | Is Social Inflation Really a Problem?
Which carriers are most generous in paying employees? We wondered that too. Our analysis of the top 40 personal lines carriers found that Farmers, USAA and Progressive pay the most in salary and bonuses as a percentage of general expenses.
On the compensation front, Allstate is planning to cut commissions on policy renewals for its captive agents. The company says agent comp "will align with market conditions."
One expense that carriers often complain about is the cost to defend against lawsuits. Executives often say reckless lawsuits hurt the property and casualty insurance industry, leading to higher rates, but by at least one key measure, the data doesn't support that claim.
Some companies might think bringing people back to the office will boost performance but in a recent survey, more than half of professionals either quit their jobs or knew someone who had because of an RTO requirement. We pulled together some tips to help navigate this evolving landscape.
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