Nationwide said Monday that by July all agents who sell its products will be independent. Until now it has relied on a combination of exclusive and independent insurance agencies — one of the largest insurance companies to operate under this model. Most of the agents who sell Nationwide products already are independent agencies; Nationwide said it works with about 10, independent agents across the U.
The company also works with 2, agents operating under the Nationwide brand who will have to shift to an independent agency model. The move follows larger industry trends: "Captive" or "exclusive" agents typically work for and are paid by one insurance company, while independent agents can sell products from multiple carriers and own their own business. Nationwide had 2, captive agents when it announced the shift in , most east of the Mississippi River and including in Ohio. The company's insurance is now sold through a network of 11, independent agents.
Berven has said the move will help Nationwide streamline and give customers more choice. But the move wasn't popular among all agents, including at least one who sued claiming the shift could harm retirement benefits and force agents to pay to maintain relationships with their clients.
Hirt and O. Has more than 6 million policies in force for auto, home and business insurance. Works with more than 13, independent insurance agents. The Home Office alone employs more than 3, people. Please tell us what you liked about it.
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