The DBL Center is here to support our insurance brokers
The insurance industry is facing more challenges than it has in decades. Turnover rates in the insurance industry have reached highs of 12% to 15%, up from 8% to 9% in recent years, according to a report by Staffboom.com, based on data from studies by The Jacobson Group and Aon-Ward.
It’s becoming more difficult for insurance brokers to meet their quotas, with companies tightening their budgets and emphasizing higher wages over employee benefits as a result of inflation.
Brokers struggle with cash flow since they won’t receive commissions for sales of new business in emerging states like Delaware and Maryland until the new year. Yet, here at The DBL Center, we strive to provide solutions to problems and prefer to look on the brighter side.
Specifically, new legislation in many states has created vast additional profit opportunities for brokers. Minnesota is set to become the most recent state with requirements for businesses to provide paid family and medical leave in 2026. Delaware’s PFML goes into effect in January 2026, with the first premium payments due in April 2025. Payroll deductions for the Maryland FAMLI program go into effect in July 2025, with payments due for state plans due October 2025. You can learn more about Delaware and Maryland Paid Parental Leave legislation in a recent post.
Employees Demand “More Support,” States Step In
These paid family and medical leave programs happen to be exactly what employees want. MetLife’s Annual U.S. Employee Benefits Trends Study revealed that 92% of employees want “more consistent care at work from their employers,” while 79% want “more support in their personal lives.”
“Consistent care at work” looks different in every organization. It can mean on-the-job training, performance reviews that go into specifics, or mentorship “support in their personal lives” often takes the form of paid benefits to care for young children, take an aging parent to a doctor’s appointment, or recover from a long-term illness without worrying about their mortgage or rent and other monthly bills.
Not only are paid family and medical leave programs becoming a required benefit in more states, they are a powerful retention tool in other states, especially for businesses based in regions where they frequently recruit across state lines. That’s why we see paid leave spreading across the Eastern seaboard, from Massachusetts to Maryland.
Holding Pattern: States Get Set to Release New Rates
The DBL Center remains on the cutting edge of required paid family and medical leave legislation, sharing news with our brokers as soon as we learn of changes to costs, benefits, available carriers, and more. We will have big news coming on these pages by October regarding premium rates and privatization opportunities for PFL, PFML, and similar programs.
Meanwhile, we are rapidly expanding our staff to serve the states offering private options for paid leave benefits. While some businesses think months or a year ahead, The DBL Center has three- and five-year plans to serve our brokers with advanced technology and personalized service.
Recharging for a Stronger Autumn
So much of what we do at The DBL Center revolves around serving our broker clients with the lowest premium rates and white-glove service. To do this, we put time into the relationships we have with top-rated carriers. Sometimes, this looks like a charity golf event or a day at a ballgame. In today’s world of Zoom meetings and digital connections, we believe the best business opportunities come from personal relationships.
We also maintain high employee morale to continue providing the best service to our brokers. I’ve made it a habit this summer to host monthly happy hours for my staff in a serene, low-key setting. We take that time to relax, re-connect, and have a few laughs. Summer Fridays, when our office shuts down at 1 PM, have been a success for several years. In general, I provide flexibility, understanding, and continue to promote the family atmosphere my father instilled in this company when he founded it in the ‘80’s. Our turnover rate is low and when we find an employee who is a good fit, they tend to stick around for decades.
We also encourage our staff to take time off for their families – and, in recent years, I’ve started to do the same as part of an emphasis on work-life balance. I’m wrapping up this post as I prepare to leave for a European cruise – a first for myself and my family.
We will be back, full steam ahead, in September and ready to help our brokers meet their sales goals, grow their book of business, and boost their commissions. Are you ready to join us?
