Insurers should let brokers share pen
The insurer 'grip on the pen' has continued to grow tighter as the market has hardened, but Adrian Thone believes that the future of profitable growth lies in delegated authority and he believes that this argument is supported by a happy set of industry dynamics
The hardening market over recent years has resulted in the tightening of the insurer 'grip on the pen' as they have sought to manage underwriting results, fuelling the trend for many binding authorities to be withdrawn from brokers completely. Three years on from September 11, 2001 and despite the recent smoothing of the market cycle, insurers' inclination is still one of reluctance to surrender even the tightest authority.
However, having spent the past decade on both sides of successful self
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