The industry follows a fairly predictable "cycle" of hard and soft conditions. For a period of 6-10 years, competition drives premiums down, creating a soft market. As losses begin to mount, prices increase and carriers withdraw from the market creating a hard market. From 2000 to 2005, physicians faced the worst hard market in memory. Double digit price adjustments and nonrenewed coverage was commonplace.

The higher prices eventually attracted new carriers along with tort reform in many states that limits the runaway jury verdicts. We are now experiencing a soft market with new carriers in the market, promising lower rates. Is this the right time to make a change? Are the new carriers financially viable? Will they be around for the long term? Is their policy form as good as the established carriers? Will you lose your retirement privileges if you change carriers? The answers to these questions may not be as simple as some will make it seem. Even when coverage is readily available, you need an experienced partner to guide you through the maze.

R. T. Nelson and Associates has the market savvy and experience to help you make the right decisions. There seems to be a constant stream of new carriers entering the market with promises of lower prices, "program discounts," and lax underwriting for those with claim history. It's easy to be tempted by their pitch. We can help you make the right decision. Through our relationship with all of the standard and nonstandard carriers, we have the access and experience to find the right coverage at the best cost. We provide a complete analysis of all available carriers, proposed terms, and market updates.

Contact us for a free, no-cost, no-obligation consultation.