Congratulations to our very own Chris Carter for getting PIA Agent of the Year!
Blog
Should I Go or Should I Stay?
The insurance industry is cyclical in nature based on carriers loss and profitability results. Both hard and soft markets are considered a normal part of the business cycle of insurance and typically run in 8 – 10 year cycles. Several years of quiet tropics have resulted in a soft market cycle more prevalent in coastal states resulting in:
Relaxed underwriting criteria
Increased carrier capacity
Increased competition and additional market options
Reduced pricing
As an agent, seeking the best coverage options for your client while at the same time retaining good business can be challenging as more markets enter the coastal states.
ISO Coverage Form 1036 – Limitations on coverage for roof surfacing
In the past few years, increased storm activity across the Midwest and Southeastern regions have caused wide-spread damage to roof surfaces prompting insurance carriers to take action. Carriers are heavily regulated and bound by the three basic rate making principals.
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