“I’m being bought out!”
“We’re merging with an agency five times our size that will take our revenue to a whole new level!”
While expressions of excitement like the ones above might be music to the ears of an owner considering selling an agency, beware!
When it comes to selling an insurance agency, I’ve heard my share of mixed results during 25-plus years working in the industry and underwriting specialty risk — often for insurance agents and brokers whose firms are in the process of merging or being acquired.
Some sellers happily sail into
It’s in part because of cases like this that a little-known corner of the insurance market has been growing, and fast. These days, almost half of large employers buy insurance coverage for claims of discrimination and harassment: it’s called Employment Practices Liability Insurance, and it was almost non-existent 25 years ago.