A recent report from investment management firm Conning & Co.'s Insurance Research Division dispels a long-held misperception that the wholesale distri-bution channel is substantially more expensive than the retail channel when it comes to placing specialty risks.
The report, commissioned by the National Association of Professional Surplus Lines Offices Ltd., analyzed distribution around cost structure and ratios between the wholesale and retail channels.
Conning measured all non-loss costs relative to direct written premium from 2010 to 2015 for insurance companies and found that the total non-loss cost ratio for the wholesale composite was lower than retail by 1%.
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