This article, written by Mark Crites, a partner at Reagan Consulting, builds on a recent conversation featured in PIANJ’s Deep Dive discussion, in which Crites joined PIANJ for an in-depth exploration of the market forces shaping the insurance industry in 2026....
The excess and surplus lines insurance market provides specialized coverage for risks that have been declined, nonrenewed or that possess unique underwriting characteristics. Also known as surplus lines or the nonadmitted market, this sector caters to risks that...
New England’s independent agents are experts at adapting to a playing field that’s constantly changing, and the current state of the market will surely test their resolve in months to come. As 2025 dawned, rates had stabilized in most lines, even if carrier appetite...
If there’s one universal truth in the insurance industry, it’s this: change is inevitable,[1] and uncertainty is just part of the package. One minute, you’re navigating a stable market; the next, new regulations, economic swings or technological breakthroughs are...
Macroeconomic factors and the marketplace have created favorable conditions for the insurance industry (as a whole) leading to strong, consistent profitability. While the industry continues to offer benefits like stability, recurring revenue and a robust secondary market, new challenges have emerged that can impact the insurance business negatively and create additional risk.
A client asked me, “Did I wait too long to sell?” Since the number of deals has generally been in decline since mid-2022, some agency owners may wonder if they missed the boat. They haven’t. In the second quarter of 2022, there were 1,206 deals announced for the prior...
Vertical specialization—where insurance producers focus on specific industry sectors, niches or lines of business—is quickly gaining ground as an approach for accelerating growth. It has proven to enhance client retention, build efficiency and foster...
If you’re an independent insurance agent, today’s clients—like those of, well, any service provider—expect handcrafted personalized solutions tailored to their specific needs—whether it’s their industry, niche or unique circumstances. The best thing about this...
Amid growing concerns about the financial health and stability of the insurance marketplace, the personal-lines sector has experienced significant disruption, driven by carrier withdrawals and a rise in insolvencies. These developments are further constricting an...
In today’s challenging insurance landscape, managing errors-and-omissions risk is crucial. The hard market has brought with it unprecedented operational challenges—from staffing shortages, to shifting carrier appetites—and insurance agents must adapt quickly to avoid...