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.

DO YOU FORGET TO ASK FOR REFERRALS? THESE FIVE QUESTIONS CAN HELP! by Bill Cates A common referral challenge I hear in my seminars and coaching programs is the issue of forgetting ...

DO YOU REALLY CARE ABOUT YOUR CUSTOMERS? by Emily Huling Well, of course you care about your customers! At least, you believe you do. How do you show it? If you're like most of the sales...

DRUG SCREENING YIELDS QUALITY WORKING PARTNERS Tucson Rubber Corporation is a manufacturer of rubber mechanical parts. The approximately 60 employees are predominantly entry-level workers with l...

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I recently had the pleasure of interviewing Linda Dobson, an estate-planning attorney from Los Angeles. She had this advice for financial services professionals who want to win referrals from estate-planning attorneys:

Cross-marketing between banks and insurance agencies remains largely virgin territory. Most of the potential has not even been charted, let alone mined.
In working with banks as partners, owners, or co-venturers, insurance principals should recognize the pros and cons of the affiliation to neutralize the negatives and build on the positives.

HOW DO YOU ENSURE THAT TRAINING WORKS? by Monica Woldring Insurance agents today all spend time and money on training staff. The training may take place on the job or in seminars and courses. W...

HOW MUCH SHOULD YOU PAY YOUR PRODUCERS?: PART I by the IIABA Virtual Faculty Whats the average renewal commission that an owner should give his producers? Is there a difference betw...

JOB DESCRIPTIONS JOB DESCRIPTIONS A. MANAGEMENT B. ACCOUNT EXECUTIVES C. SALES CENTER D. CUSTOMER SERVICE E. ADMINISTRATIVE F. LIFE G. USER-C...