Despite softening prices, AAMGA leaders say retailers will stick with pros
Unlike in soft-market cycles of the past, the leadership of a managing general agent association believes its members can hold onto marketshare and even grow as the industry recognizes their long-term value.
While the insurance market is seeing some price softening–which translates into growing competition for wholesalers from the standard lines market–the experience of post-9/11 placement difficulties has demonstrated the value of the MGA system to retail agents and their customers, who are not moving their business, according to Bernie Heinze, executive director of the American Association of Managing General Agents.
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