NU Online News Service, May 20, 3:15p.m. EDT

If there is a silver lining for businesses that have shed workers and seen sales drop during the recession, it may be cheaper insurance, but agents and brokers need to be made aware of changes as soon as possible.

A story appearing in American Express' newsletter, Inside Edge (http://corp.americanexpress.com/gcs/insideedge/articles/no-automatic-renewal-elizabeth-wasserman.aspx), describes how mid-sized companies can take advantage of a soft insurance market and changes to their businesses that affect their rates.

But clients should discuss changes as quickly as possible with their agents and brokers to see what options are available, the story notes.

The story lists mass layoffs, a plant closing or building vacancy, new products or lines of business, and increasing or decreasing inventory as changes that could lead to lower premiums or the need for additional coverage.

For more details, see the Inside Edge story titled "No Automatic Renewal."

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The Recession&#039;s Silver Lining: Cheaper Insurance?

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The Recession's Silver Lining: Cheaper Insurance?