Picture it: Long Island, New York, 2004. (For anyone old enough to remember "The Golden Girls," I hear the voice of Sophia Petrillo saying "Picture it: Sicily, 1941.")
I owned a moderately successful insurance agency in Hauppauge, New York. There were eight of us working there, we had a bevy of good clients, all of them fully insured, and we had what appeared to be, by today's standards anyway, a robust and competitive insurance marketplace.
My life consisted of putting a spreadsheet together to get the client and hoping I showed something their current broker didn't, even though they had access to the exact same plans and rates I did (New York had been truly community-rated for a very long time). Once the plans were chosen, I would conduct employee meetings and my staff would help service the group throughout the year. At renewal, I would almost laugh at the increases year after year, and watch as benefits eroded to offset the rising premiums.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
