Takeover sales now account for almost 41 percent of new voluntary sales premium reported in 2010, according to the most recent U.S. Worksite Sales Report from Eastbridge Consulting Group.
Takeovers—where one carrier's plan is replaced with a similar plan issued by a different insurance carrier—have increased excessively over the past five years, going from 12 percent in 2006 to 41 percent last year.
While this past year saw a less steep increase, just up from 38 percent in 2009, Eastbridge President Gil Lowerre says the trend will continue. However, the level of takeover activity is far below the traditional group business.
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