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Hard Market FAQ

After decades of low premiums and abundant capacity - their willingness to accept new or increased risk –  the insurance market is experiencing a hard market. This is when premiums increase, coverage terms are restricted, and competition for most types of insurance decreases; in other words, insurance is getting more expensive and harder to find. A hard market can lead to a ton of questions. Let’s look at a few and go over the answers. What is a “hard market” in insurance? A hard market means insurance companies are raising rates and restricting [...]

2024-02-06T16:43:12+00:00February 6th, 2024|

Hard Market 101

You’ve already heard about how inflation is affecting everything, including insurance premiums and claims. Rates are rising and insurance is becoming harder to get. This situation is what we in the insurance industry refer to as a “hard market.” What causes a hard market? Hard markets are caused by many factors, these can include increased underwriting loss – a loss made by an insurance company in a particular period- , increases in natural disaster claims, increased litigation costs, and increased economic challenges. All of these factors make it more expensive for insurance companies [...]

2024-02-06T16:37:43+00:00February 6th, 2024|

Commitment To Community

  When Max Gannon started Gannon Associates Insurance in 1973, he founded the company on three pillars, provide insurance excellence to our clients, dedication to customer service, and a profound commitment to the communities where we live and work. Because of our commitment to our customers, the agency has grown and expanded its footprint from one office in Towanda to ten offices in Pennsylvania and New York. As the agency grew, it afforded us the opportunity to become more involved in new communities and take an active interest in organizations that support those [...]

2023-12-22T18:42:32+00:00December 22nd, 2023|

Golden Milestone: Celebrating 50 Years of Excellence

In the world of insurance, where trust and reliability are critical, reaching the 50-year mark is worth a celebration. Gannon Associates Insurance is proud to be celebrating their golden anniversary this year. Established in 1973 by Max Gannon, Gannon Associates Insurance has been a source of support and security for countless individuals and businesses across our area and beyond. As they commemorate half a century of unwavering dedication to their clients and commitment to insurance excellence, it is the perfect time to reflect on the journey that led to this remarkable achievement.   [...]

2023-12-22T17:43:41+00:00December 22nd, 2023|

Gannon Associates Insurance And DGK Insurance Working Together To Serve Our Communities

Across all types of business, consolidation is a common theme, large companies from outside our region are taking over small local businesses. The insurance industry is not immune to this trend, companies from big cities across the country are swooping in purchasing local independent agents in our hometowns. Although these businesses have every intention of staying the same, when large companies from far away dictate how they operate, it can be difficult not to change. Both Gannon Associates Insurance and DGK Insurance recognize this trend and want to continue to serve our communities [...]

2023-08-03T17:31:08+00:00August 3rd, 2023|

Julia Newman Earns Professional Recognition from Health Insurance Industry

Julia Newman, Director of ASA/Individual Benefits Operations, recently received the Registered Employee Benefit Consultant® (REBC®) designation from The National Association of Health Underwriters. NAHU views this designation as the highest form of recognition in the health insurance industry, demonstrating Julia’s commitment to educational leadership within the insurance profession. The REBC designation was established to acknowledge professional accomplishments in the employee benefits and healthcare-reform fields and distinguishes the recipient as an elite practitioner in the field. Earning an REBC designation is visible testimony to clients that Julia has acquired and maintained the [...]

2022-09-06T15:56:56+00:00September 6th, 2022|

Insurance Cuss Words?

When we were little, we learned quickly which words were not okay to say. Use one of those “four-letter” words and mom would throw you a disapproving look so quickly! Similarly, to the cuss words we learned when we were little, there are phrases in the insurance industry that when used will cause some disapproving looks… we will call these insurance cuss words. Insurance cuss words are those that misrepresent what the coverage actually protects. Examples of these include: Blanket Additional Insured All Risk Full Coverage Blanket Additional Insured. Typically, we hear this [...]

2022-06-01T14:32:15+00:00June 19th, 2022|

Training and Development at Gannon Associates Insurance

Insurance is complicated! We know how intimidating it can be to even consider joining the industry when it can be difficult to comprehend as a customer. The thought of jumping into the insurance world and starting a whole new career can be overwhelming, but thankfully with Gannon Associates Insurance, you are not alone. We understand the importance of training and developing new employees. However, we also understand that not everyone joining our team has the knowledge our more senior staff do. Therefore, we put a considerable focus on onboarding and education. Our training [...]

2022-05-16T13:47:23+00:00May 29th, 2022|

Meet Your New Profession

Let’s face it, there are many career options available, but finding one that is the right fit is hard. Out of high school, you must decide about your future, do you want to attend college, go in the military, or head straight to the workforce. Sometimes, life doesn’t go as expected, and you can’t finish university, you become a parent more quickly than planned, or plain decide that what you thought was suitable for your career just was not. Working within my community while receiving good pay and benefits was undoubtedly a few [...]

2022-01-31T18:13:43+00:00February 13th, 2022|

Insurance Needs for New Graduates

Congratulations! Graduating from college is a huge accomplishment. The next few months are going to be filled with so many firsts, from your first career job to a new apartment or vehicle, life is sure to be full of changes. As you transition from college student to full-fledged adulthood, you want to make sure to not overlook one of the most important firsts. Insurance. Insurance may not be as exciting as buying your first new car or starting your dream job, but it is an important “first”. Having insurance can help set you [...]

2021-07-27T14:03:05+00:00May 30th, 2021|
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