Energy On The Offensive #033 - Truth Or Excuses?

The insurance industry is broken

Insurance companies do a poor job of handling liability claims, payout on frivolous cases instead of fighting them, and write terrible operations with a lot of claims. They then increase your rates to ensure they still make a profit. Most agents are happy to deliver rate increases because they get paid more commission. The industry feeds us brokers with many excuses to pass along, such as “inflation,” “hard market,” and “nuclear verdicts.”

Rate decreases at renewal are possible

The timeline above shows a 40-unit tank truck client who transports cryogenics nationwide. I have delivered a rate decrease to them for the last three renewals we have worked together. To be fair, they have a wonderful claims record, excellent CSA scores, and have taken on more skin in the game with higher deductibles.

Achieving success - don’t confuse effort with results

I don’t always deliver rate decreases to clients. However, my mission is to get them the most competitive rate and coverage available. We have unique processes and services you can’t get anywhere else to help make this possible.

If you’re interested in learning how we might be able to help your company, reply to this email or call (501) 581-7226