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Posts Tagged ‘claim

Allstate is denying a charge by an agent group that it has a goal of eliminating more than 3,000 agents in three-to-five years.

Jim Fish, executive director for the National Association of Professional Allstate Agents (NAPAA), said an internal company memo laying out the company?s strategy to grow its business in the future calls for the elimination of up to 3,300 agents whose business has not grown to between $3 million and $4 million Read the rest of this entry »

Private mortgage insurers have stepped up their rejections of claims on defaulted loans, compounding the pain that banks and other lenders have felt from the housing crisis.

In the second and third quarters, insurers denied 20% to 25% of claims, up from a historic rate of 7%, according to Moody’s Investors Service Inc. Though the insured party is usually Fannie Mae or Freddie Mac, lenders that do business with the government-sponsored enterprises Read the rest of this entry »