The economic recovery and the increases in prices have helped to boost the largest publicly traded insurance brokers as a whole throughout 2011 when compared to the year before. According to the director at Stifel, Nicolaus & Co. Inc., Meyer Shields, these two factors were very helpful to the collective fortune of these insurance brokers. He stated that “It’s not the strongest recovery we’ve ever seen. It’s not the strongest rate cycle we’ve ever seen. But it’s helping.” The industry has discovered that as there is not as much income…
Read MoreTag: insurance news for brokers
The future of insurance agencies and the broker’s role
In case anyone hasn’t noticed lately, we have come to the point in time where things are changing around us daily. Everything in business has to evolve with these changes to keep up and stay competitive. Insurance carriers and independent agencies alike are now trying to figure out what they can change, without changing what needs to be changed. It’s like the old saying, “can’t see the forest for the trees.” The insurers and the independent agents both have business specific issues, but neither one can see them. The insurance…
Read MoreHow will new health reform laws affect workers comp sector
Members of the Casualty Actuarial Society recently attended a conference concerning the effect the new health reform bill could have on the casualty and property industry. Several concerns over possible effects on the worker compensation system were put to rest, and possible results on lowering medical malpractice suits were discussed. Because worker compensation medical claims are a part of the overall rise in healthcare, many have been concerned about possible changes under the new reform bill. After the statistics were broken down though, there didn’t seem to be much to…
Read More