Historically, a hard market is part of the cyclical nature of the insurance industry. At one time, these cycles occurred fairly consistently at about seven year intervals. However, the last significant hard market came in the mid-80s.

A hard market is characterized by increasing rates and/or reduced industry capacity, which leads to affordability and/or availability problems. In addition, both underwriting and claims adjusting usually become more stringent. In the current marketplace, these conditions are exacerbated by increased uncertainty about such loss exposures as terrorism, mold, etc., and by a reinsurance market significantly strained by the events of September 11.

CEMENT RELATIONSHIPS TO BUILD RETENTION Service today should center on building lasting relationships-with the customer and with the companies the agency represents. Two fundamental types of CSR con...

DOES A BANKING RELATIONSHIP MAKE SENSE FOR YOU? by Chris Burand Banks are buying agencies, agencies are developing relationships with banks, insurance companies are opening banks, and a dozen...

PRODUCER COMPENSATION Producer compensation plans among independent agencies vary tremendously. Pick up several compensation surveys and you'll observe variations that seem to confuse m...

In most agencies today, the total commission of a Personal Lines account will equal or exceed the commission of a Non-exception Commercial account. In this document, Jack Fries asks why you’d pay a CSR more money to handle a lower commission account.

WORKING IN MY SWIMMING TRUNKS: HOME-BASED OPPORTUNITIES by Jack Burke Millions of Americans operate businesses from their homes. This document by Jack Burke offers recommendations for u...