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Evolution of the Wholesaler

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Times are changing in the insurance industry distribution system. In this video from the National Association of Professional Surplus Lines Offices' (NAPSLO) annual convention, Matthew Power, EVP, head of strategic development for Lexington Insurance Co., says 25 years ago wholesalers were often a single shop, or single risk specialist. But today wholesale insurance brokers are more often viewed as international operations with a variety of offerings to manage today's complex industry. As a result, many wholesalers are more "robust and sustainable" than ever before, according to Power. The size, scope and product offerings of today's larger wholesale broker are good for Lexington and good for the industry, he says.

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