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In response to
"Regarding insurance rates rising, it's a business tactic employed across corporations."
by
David
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I think also (for insurance) it's much more prevalent in markets where rates are already high (metro Detroit here for example) - up North, where I am
Posted by
JenBro
Jul 10 '13, 13:01
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we really need to renew policies several times before we make back in commission what it costs us to put the business on the books ... so for our agency - developing a relationship and having strong retention and profitability (writing good risks) - is what it's all about - and because we have more than one company and we own our book of business and can change clients to other companies, our relationships with our carrier companies stay pretty solid too as far as rate changes being stable - 'cause they know we'll move the book of business if they aren't competitive and doing a good job for us.
so yeah ... we don't see it up here - but I do know that revolving "market share" game with rates does happen elsewhere
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