2006 Best Practices Study

AGENCIES WITH REVENUES OVER $25,000,000

PRODUCER INFORMATION

2006

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

% of Agencies that Hired a New Producer During Last Fiscal Year

PROFILE

88.2% 80.0% 80.0%

Number of New Producers Hired

7.5

5.5

7.3

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$94,078 $107,750 $123,834

FINANCIAL STABILITY

Where New Producers Were Found

EMPLOYEE OVERVIEW

Outside of Industry* 16.6%

Another insurance broker 57.1%

Directly from college or graduate school 6.9%

PRODUCER INFO

An insurance carrier 19.3%

SERVICE STAFF INFO

*Other industries mentioned most often include Medical/Pharmaceutical, Payroll Services, Advertising, Construction/Engineering, Banking/Financial Services, and Legal

TECHNOLOGY

INSURANCE CARRIERS

2006 Best Practices Study

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