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GEICO closes California insurance offices, lays off hundreds. State is ‘monitoring’
sacbee ^
| 08/01/22
| Randy Diamond
Posted on 08/01/2022 6:33:46 PM PDT by hapnHal
GEICO has closed all of its 38 California agent offices that sell auto and homeowners policies and other lines and has also ended the practice of selling insurance through telephone agents in the state.
Three offices in Sacramento, one in Roseville, three in Fresno and one in Modesto were among offices that have closed in the last few days. The closures are resulting in more than 35 layoffs in the Sacramento area and hundreds statewide.
The GEICO office in Roseville only opened in July 2021. GEICO put out a press release at the time saying it would meet the insurance needs of all Placer County residents.
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(Excerpt) Read more at sacbee.com ...
TOPICS: Business/Economy; News/Current Events; US: California
KEYWORDS: badbusiness; california; chat; localnews; looters; thieves
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1
posted on
08/01/2022 6:33:46 PM PDT
by
hapnHal
To: hapnHal
So why?
[Won’t turn off ad blocker...]
2
posted on
08/01/2022 6:37:18 PM PDT
by
Adder
(Dumblecrats: Spending $$ we don't have on crap we don't need for people who pay no taxes.)
To: hapnHal
The agent, who opened the door for less than a minute, stated that the closure was permanent and due to corporate decisions by GEICO, not the local agency, which is independently owned. GEICO hires local agents, according to its website, who must spend between $100,000 and $250,000 to open an office. The agents make their money on commissions and can only sell GEICO products.
3
posted on
08/01/2022 6:37:59 PM PDT
by
PeterPrinciple
(Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
To: hapnHal
GEICO is part of Berkshire Hathaway, the publicly traded company run by famed investor Warren Buffett.
What does Warren know that we don’t?
4
posted on
08/01/2022 6:38:56 PM PDT
by
PeterPrinciple
(Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
To: hapnHal
Californians can still obtain GEICO policies in the state, but only through a computer or a mobile device, posing a challenge for those who are not technologically proficient. - Foxnews
5
posted on
08/01/2022 6:39:16 PM PDT
by
DannyTN
To: hapnHal
Well, unless another explanation is supplied, I am going with “Defunded the police and crime is up which makes the state unprofitable for the company.”
6
posted on
08/01/2022 6:42:52 PM PDT
by
Fai Mao
To: DannyTN
Californians can still obtain GEICO policies in the state, but only through a computer or a mobile device, posing a challenge for those who are not technologically proficient. - FoxnewsIt's so easy even a caveman can do it.
7
posted on
08/01/2022 6:43:12 PM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: dfwgator
LOL, perfect. Caveman was a Geico commercial wasn’t it?
8
posted on
08/01/2022 6:45:07 PM PDT
by
DannyTN
To: dfwgator
But can a California Democrat do it ??
To: hapnHal
This is all because of California AB5 legislation.
This is all because of California AB5 legislation.
This is all because of California AB5 legislation.
This is all because of California AB5 legislation.
Geico does not want these independent contractor insurance agents classified as employees. Easier to leave the state of California.
10
posted on
08/01/2022 6:45:18 PM PDT
by
ncfool
(TRUMP SHOULD BE THE KING MAKER IN 2024 AND NOT THE KING. )
To: RightWingNut
11
posted on
08/01/2022 6:45:59 PM PDT
by
dfwgator
(Endut! Hoch Hech!)
To: hapnHal
“The company’s actions will make it harder for consumers to buy GEICO policies, particularly those who are computer challenged or prefer to meet an agent in person”, said former California Insurance Commissioner Dave Jones in an interview.
This article is silly. GEICO has ben phone/On-Line centric for as long as I have known of them. Throughout the country, the number of GEICO agencies relative to client base versus companies like State Farm or Farmers is miniscule.
The brick and mortar operations they have are a concession that they'd rather not have anywhere, and if having them in California means converting contractors to full-time employees, they are gone.
12
posted on
08/01/2022 6:48:13 PM PDT
by
Dr. Sivana
(What was 35% of the Rep. Party is now 85%. And it’s too late to turn back—Mac Stipanovich )
To: Dr. Sivana
13
posted on
08/01/2022 6:50:19 PM PDT
by
ncfool
(TRUMP SHOULD BE THE KING MAKER IN 2024 AND NOT THE KING. )
To: ncfool
First they came for the truckers and then the insurance agents.
Whose next?
14
posted on
08/01/2022 6:51:44 PM PDT
by
CaptainK
("If life's really hard, at least its short")
To: Adder
Geico probably determined that P & C was a loser in California. Too many uninsured (read illegals).
15
posted on
08/01/2022 6:56:18 PM PDT
by
Ouderkirk
(The democRATS are not looking to govern, they intIend to RULE.)
To: CaptainK
Farmers?
(Real ones…not the insurance guys.)
16
posted on
08/01/2022 6:56:18 PM PDT
by
Jane Long
(What we were told was a “conspiracy theory” in 2020 is now fact. 🙏🏻 Ps 33:12)
To: PeterPrinciple
Not a thing. He recognizes that Ca. (big cities) are sh!tholes, and a losing proposition, as I’m sure most of us know that to be the case also.
To: CaptainK
18
posted on
08/01/2022 6:57:14 PM PDT
by
ncfool
(TRUMP SHOULD BE THE KING MAKER IN 2024 AND NOT THE KING. )
To: Ouderkirk
Hard to insure a third world country. That’s essentially what CA has allowed itself to become.
Heck, even its citizens are fleeing to Mexico City.
When that happens…you know it’s bad.
19
posted on
08/01/2022 6:58:29 PM PDT
by
Jane Long
(What we were told was a “conspiracy theory” in 2020 is now fact. 🙏🏻 Ps 33:12)
To: hapnHal
G--overnment
E--mployees
I--nsurance
CO--mpany
20
posted on
08/01/2022 7:05:16 PM PDT
by
lewislynn
(Trump accomplished more in one term than any one President in your lifetime.)
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