Owner Sells His Allstate Business

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Owner Sells His Allstate Business

Unread postby RatPak11 » Tue Jul 10, 2012 12:44 pm

http://www.cdapress.com/news/business/a ... 967ad.html

Adams sells Allstate Insurance business
Cd'A City councilman contracts with Avalanche
Posted: Tuesday, July 10, 2012 12:15 am | Updated: 2:00 am, Tue Jul 10, 2012.

COEUR d'ALENE - Coeur d'Alene City Councilman Steve Adams sold his Allstate Insurance business.

Adams contracted with Avalanche Insurance in Dalton Gardens, and will continue selling insurance.

Adams, elected to the council in November, had owned his Allstate business on East Sherman Avenue for 20 years, having purchased it from his father, who had it for 34 years.

"I contracted with a broker, so I'm not out of insurance," Adams said. "I just needed to expand my horizons. Allstate was one company and now I'll have 40 companies (to work with under Avalanche)."

Called a termination agreement, Adams received a percentage of the business's value, taking in just over $200,000 in the deal. He still owns the East Sherman building but can't use it to sell insurance for at least one year, according to terms of the agreement.

Adams said he'll open up a business there next year.

Jeffi Tibbetts bought Adams' old business from Allstate July 1. She also bought another Allstate business from Terry Kosiancic, and merged the two into one operation, at 610 W. Hubbard Ave. No. 206. Born in St. Maries, Tibbetts moved back to the area from Seattle.
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