P&C Commercial

Markthebroker

Guru
5000 Post Club
5,274
California
Hi everybody. Curious what the commercial P&C agents are seeing for retention. While I'm always glad to hear everybody's input, I am specifically interested in P&C COMMERCIAL retention percentages you guys are seeing. Ideally, from commercial only agents. Obviously, it will depend on what kind of commercial accounts you are focusing on.
 
Hard to give an exact on this, but I would say I'm in the high 80's.

The Carrier I place most of my commercial with shows me in the low 90's. I write mostly contractors and I do lose some, but not many - contrary to public belief.

Was just dealing with competition on one of my plumbing contractors. He gets a quote from this pestering indy who has Pekin. My insured was open about it, asked for loss runs a while ago and was so kind to send me the competing quote. My guys payroll is $100,000, and does 95% residential service work, and does not segregate payroll. Their quote shows $75,000 commercial plumbing work, $20k in residential! Their commercial rate is $24/$1000 vs $47/$1000 of payroll for residential. Cheaters everywhere, trained to get them on the books and worry about the audit later, selling nothing but price! My insured is not changing.

Love to retain customers, hate lose them, well, most of them! Seems I lose most of mine to out of business/sold/merged rather than to competition.

Dave
 
Back
Top