It is time for the board to do their duty

Allstates overall loss of 1.2 billion and missing out expectations nearly across the board…Why is Tom Wilson and the senior staff immune from the “high performance standards” for every other employee who are given goals nearly impossible to achieve??
When will the BOD stop the bleeding??

“Insurer Allstate Corp (ALL.N) posted a bigger-than-expected quarterly loss on Tuesday as claims related to higher catastrophic events offset gains from strong investment income.
The insurer's adjusted second-quarter loss widened to $4.42 per share from 75 cents a year earlier.
Analysts on an average had expected a loss of $4.18 per share, according to Refinitiv data.
Shares of the company was down about 1% in after-hours trading. The stock has declined 16.6% so far this year.”
CNN business

Comment! It's anonymous!

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Knock knock
Who's there?
Hurricane Season

"Cat losses are going to happen"

Tools like Underwriting and reinsurance are available to manage CAT losses.

Cat losses are going to happen. What’s not talked about is how much more it costs when you have unqualified people handling claims. We went from a business model of one adjuster properly handling a claim on site and settling everything to now 3+ people involved and an astronomical supplement %. On top of that we tend to concede to supplements so much more often now. Oh and the people we send to get photo packets are even worse than the garbage staff we have been hiring. Surprise surprise, customers are shocked and unhappy.

This business model does not have a snowballs chance in he-l of being profitable. But like someone else stated, maybe this is intentional

Performance standards only apply to the workers. The senior leaders can destroy this whole thing and then get a fat old check to leave. There is no consequence for them

Thread regarding Allstate Corp. layoffs

It is time for the board to do their duty

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