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Rainer
413,121
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Merger aquisition headache.  Here are two links to read

QBE North America has a weak reputation for paying renters claims which are not fire insurance in the same way a policy is written for a homeowner or the owner of the rental. They sold off their accounts to SAFECO but QBE is still operating in the US Insurance operates as a surplus lines insurer, which allows them to operate in a gray area of the market where they are not closely regulated. Because of this, policyholders are often left hung out to dry when it comes time to file a claim.

https://www.insurancebusinessmag.com/au/news/breaking-news/qbe-overhauls-its-legacy-property-claims-process-with-new-datadriven-solution-167599.aspx

https://www.prnewswire.com/news-releases/qbe-north-america-enters-agreement-with-safeco-for-personal-insurance-business-300697674.html

 

Get the policy out. Read every line. Get QBE's adjuster, processor, agent CEO PAT REGAN and TODD JONEs and everyone's email and document everything by email. Phone call does not document anything and they will wiggle. The funds held by QBE can be transferred but it's going to take a PUSH 

Jan 16, 2020 12:01 PM
Ambassador
6,348,423
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like a question for your state attny general to address.

Jan 16, 2020 12:45 PM
Rainer
372,387
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor, licensed in WA

Wow, that seems shady and I would check into it more. If Safeco bought and now manages the insurance, the premium remaining should have gone to them and carried over as if it hadn't been sold. Is the client sure that Safeco isn't asking for money for the renewal due to the current policy expiring in the next 2 months or so?

Jan 16, 2020 10:40 AM
Ambassador
3,338,319
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I have not. 

Caroline Gerardo has some good information here.

Jan 16, 2020 12:37 PM
Rainmaker
2,371,809
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I got nothing MichelleCherie Carr Crowe Just Call...408-252-8900 so I'm eager to read other responses. Thanks for asking the question.

Jan 16, 2020 11:29 AM
Rainmaker
1,839,276
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Nope but I'd start looking for a new company.

Jan 16, 2020 10:50 AM
Ambassador
2,678,459
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Caroline Gerardo provided good links.

Jan 16, 2020 04:24 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

I popped to see the answers, and Caroline Gerardo has a great answer.  A

Jan 16, 2020 01:53 PM
Rainmaker
5,188,610
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Sounds like the time to run and not look back!

Jan 16, 2020 12:20 PM
Rainmaker
7,784,526
Roy Kelley
Retired - Gaithersburg, MD

No experience with this.

Jan 16, 2020 12:01 PM
Rainmaker
1,292,096
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Interesting information, Caroline Gerardo 

Jan 17, 2020 05:17 AM
Rainmaker
1,497,598
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, neither of those offer insurance out here.  Are the companies related?

Jan 16, 2020 10:30 PM
Ambassador
5,198,207
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I have not but, parked and reading!

Jan 16, 2020 07:30 PM