Hard Market Spills Over Into Personal Lines Sales
Growing an agencys business in the rough-and-tumble personal lines market is never easy, but in the current hard market, just keeping customers on board is a challenge as insurance companies tighten their underwriting rules and restrict capacity.
In personal lines, agents say, the market can be very tough indeed, depending upon the claims climate, unique exposures and regulatory woes in a particular state. Homeowners coverage is difficult in areas where mold or weather claims have become an issue. In auto, soaring claims and heavy-handed regulation in certain states have sparked an exodus of capacity.
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