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Intermediary Value

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The prolonged soft market and tough competition in the property/casualty insurance industry have opened the door for at least two surplus lines carriers to go direct to retail agents in the last year, bypassing the wholesale broker on some pieces of business. But will that trend continue? Thomas J. Curtin, co-chairman, founder and CEO of CRC Insurance Services, doesn't think so. While Curtin respects the decision of carrier executives to change their business model, he believes such changes prompt adversarial reactions from many in the surplus lines industry. Curtin says the biggest change to distribution models will come from technology. In this interview with Insurance Journal's Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention, Curtin says surplus lines brokers must develop and deliver a service that is representative of the cost to retain maximum value in the industry.

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