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Middle on the Move
Greenwich Associates, the Connecticut-based financial-services market-research firm, interviewed 1,330 middle-market companies for its recent "Insurance Market Pulse" for the small business and middle-market segments. It found that less than half of the clients would characterize the service they receive from the broker as "excellent."
In a given year, at least 20 percent of the middle-market accounts are looking to change their brokers, according to Greenwich. Why? Many clients are not satisfied with the current level of service from their brokers. The middle market is also moving when it comes to their carriers too. The consultancy found about one in three middle-market and small-business policyholders changed insurers in the last two years. Why? These middle-market clients saved a median of $25,000 off premiums.
August 1, 2007 Copyright 2007© LRP Publications |
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