Search
 

Juggling Agency Income, Outgo and Upkeep

Even the most optimistic forecasters concede that the climb out of this Great Recession will continue to be steep and arduous. Florida, especially, has been hammered with high unemployment, mortgage failures, and tumbling property values.

By Lisa H. Harrington CPCU, CAE | Updated on March 31, 2010

Even the most optimistic forecasters concede that the climb out of this Great Recession will continue to be steep and arduous. Florida, especially, has been hammered with high unemployment, mortgage failures, and tumbling property values. The national recession and its resultant drop in tourism and decreased number of new business coming into the state have exacerbated our problems.

In insurance agencies across the state, income has either remained relatively flat or decreased, with clients purchasing fewer products and carriers reducing commissions. There was a time when carriers paid 20 percent commissions and also paid for all the inspections, MVRs, credit reports, and the like. Those days are gone — and they are not coming back.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.