Producers are feeling the heat in this tough economy, expecting buyers to cut back on coverage, push harder for the best price and go bare in some areas, according to a new Producer Satisfaction Survey.
Meanwhile, the majority of the 1,596 qualified agents and brokers responding to the survey by Deloitte's Insurance Industry Group, conducted in partnership with National Underwriter, expect increased competition from other distribution systems.
"The majority of producers expect policyholders to increase comparison shopping, assume more risks to reduce premium and cancel policies over the next 12 months," Deloitte noted in its survey report.
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