Of course your insurance agent is going to fare better than their mainstreet counterparts during a recession. The great majority of insurance purchases (at least on the p&c side) are required by lenders or by the government. The demand for insurance is not affected nearly as much by up & downturns in the general economy.
Is anyone starting to see the impact on audits, particularly for contractors or for retail/distribution tied to construction? I would think that this should begin to have a heavy impact on written premium for several companies. And I wonder how it will impact all of the companies that are still buying construction business. ?
Of course your insurance agent is going to fare better than their mainstreet counterparts during a recession. The great majority of insurance purchases (at least on the p&c side) are required by lenders or by the government. The demand for insurance is not affected nearly as much by up & downturns in the general economy.
Is anyone starting to see the impact on audits, particularly for contractors or for retail/distribution tied to construction? I would think that this should begin to have a heavy impact on written premium for several companies. And I wonder how it will impact all of the companies that are still buying construction business. ?