Two surveys by the leading national agent and broker associations indicate that producers continue to see improvements in their business, but profitability may not be as large as the market shifts from its soft-market phase.
The Independent Insurance Agents & Brokers of America (IIABA) released its 2012 Best Practices Study, which found organic growth improved at a modest pace for producers.
“The results of this year’s Best Practices study indicate that organic growth continues to improve as the independent agency system faces the unusual combination of a hardening market and a continuing soft economy,” says Madelyn Flannagan, IIABA vice president of agent development, research and education. “Most Best Practices agencies confidently held their ground and have put resources and systems in place to move cautiously into a changing market.”
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