PIA has sent a letter to the chairman & CEO of Auto-Owners Insurance, thanking him for affirming in a letter to agents that it will not eliminate its profit-sharing program. Company Chairman & CEO Roger L. Looyenga sent a letter to all Auto-Owners independent agents on October 23, stating categorically that the carrier has no intention of eliminating its profit-sharing agreement with its independent agents.

In its letter, Auto-Owners noted that some insurance companies are using recent allegations by New York State Attorney General Eliot Spitzer against a handful of major brokers as an excuse to eliminate their profit-sharing agreements with their appointed agents.

“It is especially heartening to learn that Auto-Owners will have no part of this, and recognizes that profit-sharing is important as a part of overall compensation to agents for all the work they do,” wrote PIA Executive Vice President & CEO Len Brevik. “America’s Main Street insurance agents — the members of PIA — believe that carriers like Auto-Owners who value and appreciate their independent agency distribution force are one of their most important assets.”

October 31, 2006