Byline: Meg Fletcher
Independent insurance agencies, though fewer in number, are growing, according to a recent U.S. survey by a leading agent/broker association.
Early results from a 2006 biennial survey show that "the smallest agencies are being acquired" at a nonstop pace, said Madelyn Flannagan, vp-education and research for the Independent Insurance Agents & Brokers of America Inc. in Alexandria, Va.
The online survey of 18,000 agent/ brokers, who are typically IIABA members writing property/casualty business, found that "one in seven agencies...has been involved in an acquisition/merger in the past two years, the same percentage as in 2004." …
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