2006 Best Practices Study

AGENCIES WITH REVENUES BETWEEN $5,000,000 AND $10,000,000

PRODUCER INFORMATION

2006

A.

New Producer Hiring

+25% Profit

+25% Growth

Average

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

PROFILE

67.6% 77.8% 66.7%

Number of New Producers Hired

2.0

1.3

2.8

REVENUES/ EXPENSES

Average Annual Compensation Per New Producer

$57,668 $59,643 $45,066

FINANCIAL STABILITY

Where New Producers Were Found

Another insurance broker 38.2%

EMPLOYEE OVERVIEW

Directly from college or graduate school 13.7%

PRODUCER INFO

Outside of Industry* 13.7%

An insurance carrier 34.3%

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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