The deepening economic slowdown has middle-market companies reassessing their insurance broker relationships and adopting a more bottom-line approach to securing insurance coverage, a new poll has found.
According to a survey from Stamford, Conn.-based Greenwich Associates, businesses have begun to de-emphasize broker customer service in favor of a much stricter focus on obtaining the best value and price in their insurance purchases.
The findings reverse past trends where middle-market companies selected their insurance brokers largely based on the quality of customer service provided by competing firms, Greenwich Associates said.
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