If you expected market conditions and other external factors to have negatively affected this year's performance results in the 15th annual "Best Practices Study," think again. Unexpectedly, organic revenue growth rates were up in all revenue categories, profitability remained high, and productivity continued to climb.
In the early part of this decade, when a hard market made double-digit revenue growth rates easy to achieve, Best Practices agencies were attaining phenomenal results. Higher profit margins and productivity levels were expected.
The 2007 study results, however–released this month by the Alexandria, Va.-based Independent Insurance Agents and Brokers of America and Reagan Consulting in Atlanta–were achieved in a very different environment.
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