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State Of The Market? Take A Guess

Sometimes writers and consultants are too long winded. They take a roundabout way to avoid bitter reality. But for those who prefer brevity, I'll get to the point: This market sucks. It is the worst insurance market since 1933.

By Chris Burand | Updated on February 28, 2010

Sometimes writers and consultants are too long winded. They take a roundabout way to avoid bitter reality. But for those who prefer brevity, I’ll get to the point: This market sucks. It is the worst insurance market since 1933. Commercial net premiums written today are less than what they were 5 years ago. We also have the most significant exposure decreases since the Great Depression. We have severe deflation in the commercial insurance market. Some agencies are working very hard and yet their growth is zero percent. Zero percent growth in some parts of the country is great.

I am seeing agency owners and employees more scared than ever before. I get the impression some employees have been charged by their executives to find growth or else. These companies absolutely must find a way to grow and they must do it now. This desperate need for growth is likely exacerbating the soft market.

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