A discussion about hard markets and what that means for you and your business.
Listen to the full episode here, or read the full transcript below.
It’s the insurance industry, the market’s ability or way of saying, “Hey, we’ve been paying out more than we’re taking in and we’ve got to fix that.”
The global combined loss ratio of 2019 was over 320%, meaning statistically, there isn’t an insurance company anywhere that made any money on any line of business overall.
It’s just the reality of what it is, is premiums are going to go up, exclusions are going to increase, and you can not like it, but it’s kind of what you have to deal with.
People can call you. You’re more than willing to talk to them about it and show them how you can help them protect themselves.