While Florida agents and brokers have become adept at adjusting to the new normal of stagnant rates and reduced premiums afflicting the E&S commercial property market, there are reasons to believe change may be on the way.
Recent studies reveal that in 2010 PEOs had more than 949,000 worksite employees, 69,000 employers, and over $25 billion in payroll in Florida. By comparison, five years ago the data showed 700,000 worksite employees, 50,000 employers and payroll in excess of $17 billion. Growth, however, has not been without challenges.
Independent insurance agency merger and acquisition (M&A) activity has been a wild ride in the past few years and it is not likely to become smooth anytime soon
President Bruce Bowers talked with Florida Underwriter about the FSLA, surplus lines business in Florida, and the Florida insurance marketplace in general.
A recent survey by the Reinsurance Association of America (RAA) showed negative movement across two critical indicators within the reinsurance marketplace.
The unique aspects of the environmental insurance market, combined with constant change, make it a challenging coverage for most insurance professionals.