Wholesale brokers of all ages are facing hard market conditions with rising insurance rates, tighter underwriting and fewer carriers willing to write some tough classes. They, like everyone, are also experiencing fewer face-to-face meetings, which they believe are important to building strong relationships.
Those challenges appear to be ones that young wholesale brokers are both willing and prepared to tackle. Lindsay Moore, a 29-year-old casualty broker for Worldwide Facilities in Los Angeles, explains that the insurance industry is a tight-knit group – so maintaining good relationships is important to achieve success.
“Relationships are always going to be around in some way, shape or form,” Moore said. “Your client could be your underwriter the next day, or your underwriter could be underwriting a different company that you do business with the next day.”