The low overhead and necessity of insurance contribute to the stability of an agency, but the real key to the success of the small- to mid-sized insurance agency is their position as a cornerstone of the communities they operate in. (Credit: Adobestock)
Why has private equity fallen in love with the independent insurance agent? Many would be quick to tell you that the insurance broker and agent industry is steady. It weathers storms. Thus, private equity interest in this space has remained so high. While this sentiment is true, how do we know it's true? How do we know that insurance agencies are more resilient, more consistent, and more recession-proof than other industries?
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