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The insurance industry operates in cycles, alternating between periods of a soft market (lower premiums, increased capacity) and a hard market (higher premiums, reduced capacity). A hard market poses unique challenges for an insurance agent, particularly for captive insurance agents who work exclusively with one insurance company. In this post, we will explore the disadvantages a captive agent faces during a hard market and how they can navigate these challenges.

As the owner of Carolina’s 1st Choice Agency LLC, Christian Gallardo strives to give his clients the best in terms of coverage choice and personal service. Christian’s agency is located in the southwestern part of North Carolina, and earns most of its business through referrals, thanks to satisfied clients and Christian’s extensive community involvement...

Embarking on a career as an independent insurance agent offers a unique path filled with opportunities and challenges. As you navigate the dynamic landscape of the insurance industry on your own terms, there are several best practices that can guide you towards success.

Whether a captive insurance agent should transition to become an independent insurance agent during a hard market is a decision that depends on several factors. While there are potential benefits to transitioning, it's important to consider the following points before making a decision.

To excel in this profession, it's essential to develop a specific set of skills that will set you apart from the competition.

Explore the insurance industry's path to recovery and expansion, driven by Excess & Surplus Markets. With a projected premium market of $170 billion by 2030, learn how to outshine your competition, carve a lucrative niche, and leverage technology to establish yourself as the ultimate insurance expert.

The support of an insurance agency network can be vital to helping independent agents grow their agencies, but some network partnerships can quickly become venomous. Beware of contracts that undermine your long-term success, cut into your profits and restrict your autonomy.

Express Markets: Unique Solutions for the Hard Market

Selling an insurance agency is a significant decision that requires careful planning and execution. If you’re considering selling your agency, you aren’t alone.

Kevin Krupka knows what it takes to grow an insurance agency. He’s the owner of Mountain Insurance Brokers in Wheat Ridge, Colorado. Over the years, he’s learned that if he wants to achieve real success, he needs to give his clients what they want. By leveraging a network partnership, he’s been able to do just that.

After years of working for other agencies, Becky Cates founded Cates Insurance Agency, LLC, in 2021. Before doing so, she had to overcome the fear of not having a reliable paycheck – an uncertainty that stops many agents from pursuing their entrepreneurial dreams. Fortunately, Becky had the courage to make the leap...

As independent insurance agents, we face competition from all sides. The battle for business is tougher than it has ever been. The same old strategies won’t yield the same reliable results. Growth requires a new approach.