Survey: Independent agencies report lost revenue, clients during COVID-19

A national survey of Big “I” leadership agencies shows that the COVID-19 pandemic continues to impact the operations of independent insurance agencies. (Photo: iStock)

A new survey from the Independent Insurance Agents & Brokers of America (the Big “I”) reveals the effects of the COVID-19 crisis on independent agencies in recent months.

According to the study of 356 agents/brokers from all Big “I” state associations, nearly half said they transitioned all or most of their staff to remote work, with 41% of the agencies’ staff still working from home. Also, nearly 50% of the agencies reported decreased revenue for the year, and 46% said they lost commercial clients during the pandemic.