As we approach the new year, we would like to thank you for everything you did during 2025. This past year has been one of transition. This was especially true in Personal Lines. The year began with carriers continuing their rate increase, tightening underwriting guidelines, and limiting capacity. But late 2025 brought relief. Loss trends […]
When a client walks through your door with a “hard-to-place” risk, a vacant property, a contractor with claims history, or a startup in an emerging industry, you have two choices: refer them elsewhere, or find a solution that keeps the relationship in-house. For independent agencies, this is where the power of the Excess & Surplus […]
The hard market of 2023- 2025 limited the ability of many insureds to shop for other insurance options. Their rates were going up, their deductibles were changing, and their coverage was decreasing. However, if they tried to shop for other insurance options, they did not find many alternatives as insurance companies were not interested in […]
After years of dealing with the hard market challenges of skyrocketing premiums and limited carrier options, things are finally starting to ease. As the winds of the market shift, agents may finally find some breathing room. But in this moment of relief, the question arises: When the market eases … Now what? As an independent insurance […]
The term “social inflation” has been gaining traction in the insurance industry due to its significant impact on claim costs and premiums. Unlike standard inflation driven by economic factors, social inflation refers to the rising costs of insurance claims influenced by societal and legal trends. For independent insurance agencies, understanding this concept is crucial to […]
Independent Agents can Enhance Growth Opportunities by Writing More Commercial Insurance According to IIABA’s 2023 Best Practice Study, small agencies (defined as under $1.25 million in revenue) on average generate 43.9% of overall revenue from commercial P&C. Within SIAA, the national average of overall revenue from commercial P&C is 40%. And although there are exceptions, […]
With auto insurance premiums increasing by an average of 15%, consumers will look to agents for ways to respond. While independent agents can remarket accounts, the resulting disruption and potential to face increases again with another carrier at the next renewal may necessitate finding another alternative. Carrier telematic programs offer agents a better way to […]
Successfully Navigating through a Volatile Insurance Market Inflation and higher gas prices continue to drive cost increases and volatility. It’s important to learn how our agents are navigating a volatile insurance market. Personal and commercial insurance premiums will continue increasing (10% and greater) as carriers cite underlying factors such as material shortages (car and parts […]
When working with a new commercial lines prospect, make sure you are gathering all the information you have at your disposal so you can be more efficient throughout the quoting process. Here are some quick and accessible resources that will help you find information on your prospects: Insured’s Website: This often provides valuable information regarding the history, […]
What’s the biggest challenge your agency has gone through over the last year? We wanted to bring our agency up-to-date. This started with re-branding our agency, which included both revising our image and advertising. The agency has been in business for over 80-years, remains family-owned, and I am currently the third-generation owner. Our daughter Megan […]
