As if 2008 was not tough enough, 2009 will likely present independent agency owners with challenges rarely seen before. Unpredictable market conditions in the property-casualty marketplace, on top of the worst economy in a generation, require more than ever that agency owners commit themselves to financial best practices.
In football terms, basic blocking and tackling is a must in 2009.
Based on the admittedly small sample of 2008 agency financials I've reviewed recently, revenue growth appears flat-to-negative, with profitability down–way down in many cases. Your experience might have been much better (or worse), but on average, these results seem to have been typical.
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