The market has changed significantly in the first quarter of 2013. It's not just in commercial lines or personal lines. It's not just in coastal areas or wind-prone regions. It's not just in the hail belt or in Tornado Alley. For the first time in recent memory, we are witnessing an industry-wide, concerted effort to tighten belts and boost the bottom line. The culprit of it all is profit, or lack thereof.

Carriers have stepped up and demanded that agencies must be profitable and that the market:

• Eliminate inactive agencies that aren't producing a tolerable (defined differently by each carrier) amount of new business

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
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.