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PIA Predictions for 2013

This is the time when leaders of the insurance industry are asked to give their forecasts for the new year...
January 8, 2013

This is the time when leaders of the insurance industry are asked to give their forecasts for the new year. The National Underwriter recently spoke with top brokerages, carrier executives, agency associations and Main Street agents to discover where the greatest challenges and opportunities lie for 2013.

PIA National President Andrew C. Harris contributed his thoughts. He said the most noticeable difference in the industry between 2012 and 2013 will be as climate change settles into the realm of reality for everyone. “It will no longer be disputable that severe-weather events are occurring more frequently and more severely than previously predicted,” Harris noted. “Carriers and reinsurers are going to begin factoring in this climate change. It is going to be aggressive where the exposures are proving to be ugly.”

Harris added that an opportunity is bringing new employees into our industry. “Our industry employment numbers are back to where they were in 2005-2006, before the economic downturn,” he said. “We are starting to recover. That’s an indication to me that employment is going to inch up, and we are going to continue to bring people in who historically have not been attracted to insurance, but now our profession is starting to look pretty good to them. It’s stable, it’s good-paying, and it’s a nice career. We have an opportunity to reach out to young people and bring them into our industry.” You can read all of Andy’s comments here.

2013 Forecast: Top Trends, Challenges and Opportunities (National Underwriter 1/2/13)

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