Business ProfileforPrime Insurance Company

My company operates in the logistics business, and we had been insured with Prime for five years. However, when it came time to renew our policy for the sixth year, Prime unexpectedly decided to significantly increase the price without providing us with proper notice, which is required by the law in our state. When we confronted them about this, they responded by threatening to terminate our policy immediately after renewal if we pushed for the original terms. To make matters worse, Prime still owed us a significant balance on the premium that we had overpaid. When we raised this issue with them, they informed us that their CEO, Rick, would speak to us. Unfortunately, our conversation with Rick shed light on why people refer to him as a difficult individual to deal with. He showed complete disregard for the fact that we had been their client for five years, as well as for the loyalty of his clients of 30 years, bluntly stating that he had no intention of refunding our money. The encounter with him was not just rude; it was an extreme understatement. As a result of their actions, we are left with no choice but to pursue legal action against them. Prior to this year, I always recommended Prime to others. However, based on our experience, which included a 40% loss ratio over a span of five years with over 100+ units, I cannot in good conscience recommend or speak positively about this company anymore. My advice is to stay away from them

Dear ******,Thank you for you business over the last 5 years. As you are aware last year, we made an exception to our terms and conditions and returned over $200,000 to your company . I believe this happened over several years, albeit different amounts and as a result this expectation seems to have been carried into this years renewal? Unfortunately, we could not continue this way of underwriting. Trucking as you know has both severity and frequency of claims, and we need to build funds in preparation for this eventuality One of the reasons for your low loss ratios, apart from you being a good partner was the excellent claims handling from our in-house claims team. Regardless, I very much wish that you had a more pleasant experience at renewal time, and we wish you all the best into the future.