Navigating the treacherous market landscape

June 24, 2024

With the rate increases and the lack of coverage availability, we know you’re feeling the pressure with both selling products and retaining clients during this hard market. Additionally, you may be facing commission cuts and even terminations as carriers try to cut costs. 

ACTION: information is imperative

PIA Northeast is trying to gauge exactly how things are going in our members’ agencies. It is imperative that all our association members and their agencies’ staff members take the PIA Northeast market survey to let us know how their agencies are being affected. When meeting with the state insurance departments, this information is crucial to us so we can discuss these important issues affecting your business—and the clients you serve—with state regulatory representatives. We need a true gauge of what is happening on the front lines.

Communication with your clients is key

Keeping in contact with your clients is always a priority, but it is even more so in the current sales climate. In a hard market, it may not be enough to be on time when notifying clients of changes to their policies. It’s time to be proactiveNobody wants to be blindsided by a rate increase notice from their carrier! It’s a good idea to send your clients a notice that:

  • their carrier is submitting a rate increase request to the state insurance regulator,
  • explains why this is happening,
  • outlines what it means for them, and
  • reminds them that a request does not always mean an approval of that amount.

Staying ahead of the game can help ease your clients’ anxieties—let them know that you have their backs, and tell them you’re on top of it. Members should takea look at QS91077Don’t shoot the messenger for more tips on how to handle communicating rate increases to clients.

Maneuvering the treacherous landscape

PIA Northeast has been working hard to create resources to keep your agency staff members calm and professional when dealing with client concerns. In the QuickSource library, members can access: 

  • QS91098Agent talking points: Your premium is increasing. Here’s why
  • QS91105Why is my insurance being affected by the hard market?
  • QS91106Hard market sample client letter

PIA’s Market Transition Tool Kit offers association members ample information on navigating the treacherous landscape of the hard market.

For information on the current hard market and additional resources, you can visit PIA Northeast News & Media, and click on the “Hard market” tag.

PIA is here for you! If you have a specific question, please feel free to contact PIA’s Industry Resource Center at (800) 424-4244 or email

Shirley Albright, CPIA, CISR
PIA Northeast

Shirley Albright, CPIA, CISR, joined PIA in 1983 and has worked in many facets of the association over the years. In 1995, she was an integral part of establishing the Industry Resource Center to include the development of the software system to record and track all incoming and outgoing inquiries. She quickly moved from industry resource representative to assistant director and eventually to her current position as director. Currently, Shirley oversees the daily operations of the Industry Resource Center to include the triage of thousands of incoming member inquiries. Her other accomplishments include obtaining her New York state property/casualty broker’s license, CPIA and CISR designations.

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