Considerations for Insurance Agents Doing Business in a Hard Market

January 16, 2024

In the dynamic landscape of the insurance industry, the ability to navigate and thrive in a hard market is a crucial skill for independent and captive insurance agents. As the market becomes more challenging, with increased competition, shrinking carrier appetites, and economic uncertainties, establishing a resilient and successful independent agency might be an attractive option for exclusive agents feeling the squeeze in the current environment. It will require strategic planning and foresight.

Let’s review some of the key considerations for insurance agents in navigating a hard market, along with some thoughts about whether the challenges are more easily managed as an exclusive or independent agent.

Read the full article written by SIAA’s Chief Marketing Officer, Doug Coombs, published by ExclusiveFocus.