A bill to allow the Washington’s insurance commissioner to order restitution for policyholders harmed by insurance companies moved out of the state Senate Business, Financial Services, and Trade Committee. Senate Bill 5331 gives the commissioner authority to require insurers to …
Washington Bill Would Provide Restitution for Policyholders Harmed by Insurers Read More »
This issue reveals data and compensation insights gathered from Insurance Journal’s annual Agency Salary Survey. For the third year in a row in the survey’s 16-year history, salary averages and total compensation averages (including additional compensation such as profit sharing, …
Why Soft Skills Matter Read More »
Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024—marking the second consecutive quarterly decrease after seven years of rising rates, according to the Global Insurance Market Index published by insurance …
Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh Read More »
The 22 acquirers that make up the Sica Fletcher Index were involved in 533 agent-broker deals in 2024, down 6% from 2023. Members completed 146 acquisitions during the fourth quarter of 2024. This was 11% less than a year ago. …
Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 26% in 2024 Read More »
Restaurants Market Detail: Pacific Excess Insurance Marketing is a wholesaler/general agent with a specialty in restaurants and access to many standard, surplus lines and workers’ compensation markets. Highlights of Pacific Excess’s offerings include higher commissions; fast quotes; no premium volume …
Los Angeles County Fires “We’re seeing total losses. We’re going out there and there’s really nothing to see. We’re maybe measuring the perimeter of a building trying to figure out a little bit what the structure looked like, if there’s …
By Andrea Wells Independent agency owners, producers, and support staff continue to report higher pay, according to Insurance Journal’s national online Agency Salary Survey results. But for the second year in a row, survey respondents report a decline in satisfaction …
Understanding the strengths and weaknesses of your team is crucial–especially for insurance agency owners. Recognizing personal limitations allows leaders to strategically delegate tasks and fill talent gaps with the right employees, ultimately strengthening the entire organization. Specialization Is Key Humans …
Developing Leaders in Insurance Agencies Read More »
Back around 2013 (the copy I have is not dated, so I might be off a year), McKinsey & Company published a study that caused some angst within the industry. The study, “Agents of the Future: The Evolution of Property …
Reviewing Historic Predictions Read More »
By Andrea Wells Insurance agency owners, producers, and support staff on average made more money in 2024, but for two years in a row, satisfaction with their compensation declined, according to the latest Agency Salary Survey, published annually by Insurance …
Salaries, Total Income Jump Again in 2024 But Satisfaction Continues to Decline Read More »
