As prices continue to fall for the vast majority of commercial insurance accounts, agents and brokers are searching for ways to keep growing their top- and bottom lines despite drops in renewal commissions.
"2007 was the year the soft market caught up with everybody, and the boat is leaking," observed Kevin Stipe, senior vice president and principal at Atlanta-based Reagan Consulting Inc., which developed and produces the "Best Practices" program in conjunction with the Independent Insurance Agents and Brokers of America.
Indeed, the pricing environment going into 2008 is "much softer than what was expected," according to Robert J. Lieblein, managing principal with the consulting firm Hales & Company in Harrisburg, Pa.
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