Risk Channels

With an auto policy, it doesn’t matter if it’s a $5 increase or a $500 increase—“if it’s an increase, people are complaining,”. “It’s just the way the world is nowadays. It’s very rare to run into a clean risk, where the individual or the household doesn’t have something on their record, and it’s hard for a homeowners premium to offset these things so the carrier can still make money.” In 2018, personal auto carriers non-renew insureds far more frequently than they did in the past. “They could be looking at it on a small-picture basis, where a risk might qualify underwriting-wise, but the person’s only been a client for two years,”. “They’re thinking, ‘For a $1,200 premium, we’ve already spent $25,000 in claims—it’ll take 20 years to catch us back up.’” And if the personal auto insurance market is tough, commercial auto paints an even gloomier picture. What’s responsible for rate hikes on both sides? Will the market continue to harden? And how can you solidify your role as a trusted adviser in a line that’s r