Organic growth improved, albeit modestly, and profitability held constant for the industry’s leading independent insurance agencies, according to The Independent Insurance Agents & Brokers of America (IIABA). The association released its “2011 Best Practices Study,” which documents the business practices of a number of high-performing agencies and urges others to adopt similar methods.
Every three years, IIABA collaborates with Reagan Consulting to select “Best Practices” firms throughout the nation for outstanding management and financial achievement in six revenue categories (less than $1.25 million; $1.25 to $2.5 million; $2.5 to $5 million; $5 to $10 million; $10 to $25 million; and more than $25 million). Agencies are nominated by either an IIABA-affiliated state association or an insurance company and qualified based on operational excellence.
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