Agents Must Hustle To Survive Hard Mkt.

An entire generation of property-casualty insurance producers has not had the opportunity to sell or service clients in a hard insurance market. With the last hard market that had an across-the-board impact on pricing and capacity ending in 1986, producers less than 40-years-old have only known a soft market.

One retiring agency principal commented to me recently that his heart cannot take another two years like we saw in 1984 and 1985.

Indeed, when asked about the increased income to the broker that comes as a by-product of the hard market, he responded that it is not worth it. The hard market, especially one where there is seemingly no rhyme or reason to the decisions that are being made, he said, can destroy his credibility with clients and the credibility of the industry.

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