The new year represents different things to each of us. For some, it is an opportunity to look toward the future and for others a time of reflection of the past. I would like to take this opportunity to revisit 2011 as well as look forward to 2012.
Looking back, 2011 represents strides in a positive direction for the Bates Insurance Group. Last year we brought on two new member agencies which expands our brand and enhances our knowledge and experience. Additionally we partnered with excellent commercial and employee benefit insurance companies, giving us additional options as we represent your needs in the future. These two accomplishments make 2011 a success in our eyes because an insurance agency is only as good as the insurance companies and the agents with which it works.
The insurance market place over this past year represented a great deal of uncertainty for healthcare and the status quo for the commercial and personal insurance market places. A stable commercial & personal environment would be viewed by some as a fair offset to an unstable healthcare environment.
What can we expect for the coming year? 2012 has already shown us a hardening commercial and homeowners market place. Years of extreme losses nation wide, coupled by years of lower premiums have left insurance companies with, out of control loss ratios they are working to correct. I’m certainly not saying you should expect large renewal increases, but the days of automatic renewal decrease are behind us for awhile in these areas of coverage.
This coming year will also provide much needed closure to the healthcare reform debate. No matter how you feel about the topic we know now that 2012 will bring us a presidential election and a Supreme Court ruling that should settle things and allow us all to move on with our lives.
In good years or in bad, hard or soft markets, our mission remains the same. We aim to be trusted advisors to our clients providing quality products, services, and solutions. The Bates Insurance Group would not be here if it were not for you our loyal clients, and for that I thank you.