There have been a lot of conversations this year about the hardening or firming of the elongated soft market due to worldwide catastrophic losses. Agency owners and producers find themselves in the proverbial spot that exists between a rock and a hard place. Hard markets mean higher premiums and higher commissions, which they like. But clients aren't all that happy with higher premiums, particularly in a down economy.
And of course, pundits like me are dusting off past articles on how to cope with a changing market. Life is indeed cyclical.
The reality is that “sales are sales,” whether the market is hard or soft—just like an egg.
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