Oklahoma's bitter acclimate has apprenticed a bounded auto allowance aggregation out of the state, abrogation its 6,500 barter attractive for a new allowance provider and 10 advisers attractive for new jobs.
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GHS Property and Casualty Co. said it will abjure from the Oklahoma auto allowance bazaar primarily due to “the amazing aftereffect of assorted accustomed disasters that larboard GHS with clashing underwriting losses.”
GHS is at atomic the additional aggregation to abate its acknowledgment in the Oklahoma bazaar in the accomplished six months due to contempo storms.
Homeowners of America Allowance Co. withdrew from Oklahoma because of bounded acclimate events, the accompaniment Allowance Department said. That abandonment afflicted 2,886 policyholders.
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Spokeswoman Nicole Amend said she couldn't accommodate capacity on GHS' storm-related losses. However, Amend said claims afterwards an Oklahoma City barrage in 2010 as able-bodied as from tornadoes and abundant snow in 2011 played a above role in the firm's decision.
“It's been difficult for them to sustain themselves,” she said.
GHS will no best advertise new auto allowance policies, and alpha Aug. 1 will not renew advantage for absolute customers.
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The 10 advisers at GHS' Oklahoma City address accept been notified and will be advised for added positions, the aggregation said. Advisers displaced on Aug. 1 will be provided a break package, as able-bodied as outplacement and alteration casework including job-seeking training.
The aggregation captivated a bazaar allotment of beneath than bisected of 1 percent (0.43 percent) in 2011, which correlates to about 6,500 Oklahoma customers.
According to a contempo abstraction commissioned by Insure.com, Oklahomans pay amid the nation's accomplished ante for auto insurance. Violent acclimate and the state's ample cardinal of uninsured drivers, estimated at 24 percent of all drivers, accord to college rates.
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However, a 2009 abstraction by the Civic Association of Allowance Commissioners showed Oklahomans pay beneath than the civic boilerplate for auto coverage.
GHS sells alone auto insurance, and operates alone in Oklahoma, Amend said.
The company, founded in 1994, became a wholly endemic accessory of Healthcare Service Corp. in 1995. Healthcare Service Corp operates its bloom affliction allowance as Blue Cross and Blue Shield of Oklahoma.
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As of Aug. 1, absolute GHS auto barter will accept advantage until their face-lifting date. Nonrenewal notices will be mailed to barter at atomic 60 canicule in beforehand of face-lifting dates to accord barter and agents time to acquisition addition allowance carrier, the aggregation said.
Customers with questions can alarm GHS at (888) 443-8447.
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