Agency Management

There's been lot of talk on the acquisition front by excess and surplus lines insurers, but little action to date, even in a year that followed back-to-back declines in organic growth for the segment overall, according to a rating agency analyst.

While a growing number of independent agencies are embracing technology as a key component of their success, some are still not tech-savvy enough to capitalize on the opportunities already at their disposal.

Any agent or broker who hasn't been auditing workers' compensation claims is missing a great opportunity to lower their clients' premiums and foster long-term relationships that can build their business.

Merger and acquisition activity for insurance agencies and brokerages has slowed dramatically since October 2008, when our economic meltdown began.

With layoffs and lower sales volume decreasing demand for insurance coverage, the recession continues to deeply depress renewal rates for property and casualty insurance programs, according to the RIMS Benchmark Survey.

While warning against imposing additional laws and new federal overseers on the insurance industry, Maurice Greenberg says rating agencies need government supervision, while credit default swaps should be regulated as insurance.