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Insurance Business | 17 Jan 2017, 09:00 AM Agree 0
The soft market has impacted the industry for years but one broker is now confident the market is beginning to turn
  • John | 17 Jan 2017, 10:01 AM Agree 0
    I understand that higher premiums are nice for insurers but as brokers this is a double edged sword.

    A hard market might mean more commission but it may come with watered down cover &/or insurers being more selective with the risks that they write. Both of which mean more work for brokers to the detriment of our clients.

    If we focus on & act in our client's best interests, which we are legally obliged to do a hardening market ceases to be such an attractive proposition & people need to be careful what they wish for.
  • socially conscious broker | 17 Jan 2017, 04:08 PM Agree 0
    I always struggle to see why a hard market or a soft market should lead to a fluctuation in earnings - that's the unfortunate part about commission percentages. Just because a client pays more, why do we need to earn more?
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