A new report from New York-based Moody’s Investor Service gives mostly high marks to insurance brokers.
The report, “Insurance Brokerage, Industry Scorecard,” says brokers have fared better than other insurance sectors. “The insurance brokerage sector remains financially solid despite a weak economy and a soft commercial property/casualty (P&C) market,” the report states. “While the economic downturn and lower pricing resulted in marginal or even negative organic growth for some insurance brokers in 2009, the industry was able to maintain profitability given a valuable service offering, a high proportion of variable costs, and lack of underwriting or investment risk.”
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