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Revealed – what share of P&C premiums is positioned by unbiased brokers?

In line with the report, which relies on 2021 information, unbiased brokers dominated the business strains class as the biggest distribution channel, putting practically 88% of all business strains written premium within the US final 12 months.

By way of private strains, unbiased businesses positioned 37% of all private strains premium.

It was famous that of the 765 billion in complete premium written within the US in 2021, private strains accounted for about 50% of the entire, adopted by business strains at simply over 38%. The remaining 12% is “unclassified” protection which can’t be categorized as both private or business strains.

Large ‘I’ did level out that unbiased brokers place about 85% of this “unclassified” enterprise.

“The demise of the unbiased company channel has been predicted by numerous sources for a few years, however the Market Share Report affirms the fact that unbiased brokers have and proceed to put nearly all of all P&C enterprise,” stated Large ‘I’ vice chairman of agent growth, training and analysis Chris Boggs.

When damaged down per insurance coverage line, it was discovered that throughout the high 10 strains written by unbiased brokers, staff’ compensation was the one line that didn’t see any development within the share written by the unbiased company channel over the 5 years ending 2021. All different strains noticed their share written by unbiased brokers both stay regular or develop.

Learn extra: The Large “I” is partnering with IBA’s particular reviews

Earlier this month, the Large ‘I’ partnered with Insurance coverage Enterprise America to assist the information outlet put together its sixth annual Corridor of Fame 2022 and eighth annual Sizzling 100 particular reviews.


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