Insurance agencies should not be surprised to see less compensation from carriers in the year ahead as many companies reassess their payment arrangements and require more business from them in a difficult economy.
That was one of the findings in a survey by Ward Group, a Cincinnati-based consulting firm specializing in the insurance industry.
A survey of 99 diverse insurance companies from 2008 to 2009 found that plans to lower agent compensation in 2010 outweigh plans to increase compensation by close to three-to-one. Ward Group said that 80 percent of the companies surveyed were independent agent companies.
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