Don’t get too excited. This is one guy’s opinion – out of, oh, 10 million !!! The reality is that many carriers are in solid shape, with Combined Ratio’s well below 100. There is a lot of foreign investment about ready to come in.
Carriers like Traveler’s and Lib Mutual Regionals will talk about ‘firming’, but that is only because they’ve bottomed out. The reality is that they’ll stay flat – NOT harden. This market is going to stabilize, or firm, but NOT get hard.
Although, yet again, that is just another man’s opinion. Though I can tell you that my ‘regional’ company is taking this approach – and we are in great shape!!
And, let’s not forget that Advisen is in the business of developing benchmarks and selling information – not to say that their reporting is colored to gain the attention or tickle the ears of their subscribers, but…David Bradford is the chief knowledge officer/ Phrenologist/ Chicken Bone reader to the P&C industry.
Consider yourself fortunate to represent a carrier poised to oppose the coming market trend. As in investing, if you want to make money, observe what the market is doing and then do the opposite.
You won’t have to discount your premium quote by 50% to land an account…manual rates from your carrier will do just fine, thank you very much..heck you might even be able to debit the premium and still save the prospect money. Good hunting to you!
Its about time…only one more year of crediting accounts 50% and offering up your first born child in order to get the bind….
This market is absolutely horrible.
Best wishes to all for a safe, sane, productive, happy new year – writing all the good ones!!
If you’ve been crediting accounts 50% just to get a binder, then your company likely won’t be around to enjoy the hard market.
Don’t get too excited. This is one guy’s opinion – out of, oh, 10 million !!! The reality is that many carriers are in solid shape, with Combined Ratio’s well below 100. There is a lot of foreign investment about ready to come in.
Carriers like Traveler’s and Lib Mutual Regionals will talk about ‘firming’, but that is only because they’ve bottomed out. The reality is that they’ll stay flat – NOT harden. This market is going to stabilize, or firm, but NOT get hard.
Although, yet again, that is just another man’s opinion. Though I can tell you that my ‘regional’ company is taking this approach – and we are in great shape!!
Hmmmm. if you are crediting accounts by 50% to get bindign orders, then you probably work for Secura, Cincy, or CNA.
Wait… you also threw in your first born child. Then you must work for Indiana.
And, let’s not forget that Advisen is in the business of developing benchmarks and selling information – not to say that their reporting is colored to gain the attention or tickle the ears of their subscribers, but…David Bradford is the chief knowledge officer/ Phrenologist/ Chicken Bone reader to the P&C industry.
Consider yourself fortunate to represent a carrier poised to oppose the coming market trend. As in investing, if you want to make money, observe what the market is doing and then do the opposite.
You won’t have to discount your premium quote by 50% to land an account…manual rates from your carrier will do just fine, thank you very much..heck you might even be able to debit the premium and still save the prospect money. Good hunting to you!