Direct Appointments with Excess & Surplus Markets for Independent Insurance Agents

Over the last several years, there has been an increase in damages due to weather-related events. As we are currently in the middle of hurricane season, now is the time to review coverage on things like flood, earthquake, wind events, fires, and more.

As we advance into the second half of 2022, we continue to see the ripple effects of economic instability wrought by the pandemic. Although we’ve been seeing indications of a hardening market for some time now, the state of the insurance industry shows no signs of shifting directions and continues to tighten from a risk perspective.

Price-focused direct carriers don’t talk about coverage because they want consumers to believe all policies are the same and that the only differentiator is price. They want consumers to believe that cheap insurance is good insurance. Let’s be clear: Saving money is great! No one wants to pay more than necessary. But saving a few bucks today isn’t a good deal when it comes at the expense of proper protection and an unpleasant surprise after there’s a claim.

According to the National Interagency Coordination Center (NICC), 58,950 wildfires burned 10.1 million acres in the U.S. in 2020 — the second most acreage in a year since 1960; 17,904 structures were destroyed. Wildfires are mainly unplanned and unwanted but there are ways to prepare. We offer some safeguards that you can share with your clients.