Stay in Your Lane – Part 2

NOTE: This is the second part of a two-part series by guest contributor, Michael Gay. Here’s a link to part 1 if you haven’t read it yet.

https://www.insurancejournal.com/blogs/academy-journal/2026/08/12/878595.htm

Sometimes the Best Business Decision Is to Simply Walk Away

Turning away revenue is difficult, especially when the opportunity comes from an important client. But declining an account beyond your competence is not failure. It is sound professional judgment. The issue is not whether the account is attractive. The issue is whether you are prepared to handle it responsibly.

A candid response may be the best service you provide: “I appreciate the opportunity, but this account requires expertise my agency does not currently possess. I would rather refer you to a specialist than pretend otherwise.” Clients recognize integrity. Your reputation will be influenced not only by the accounts you write, but also by those you wisely decline. And if you want to enter a new market, do so deliberately.

What If You Want to Enter a New Market?

None of this means agents should never expand. Every specialist once wrote a first account. The issue is not whether you enter a new market, but how. The standard remains the same: do the work needed to become competent before presenting yourself as an advisor. That question begins with preparation.

Start small. Do not make the largest, most complex account your training ground. Use detailed exposure checklists, document recommendations, and visit the insured’s operations. Walk the facility, observe the workflow, and ask the owner to explain the business from beginning to end. Many exposures become apparent only when you see the operation firsthand.

Next get an education. Study the industry before attempting to advise it. Read trade publications, attend conferences, complete carrier training, review common contracts, and learn the major loss scenarios. Understand how the business operates, where it can fail, and what regulations govern it. Become a student of the industry before presenting yourself as its insurance advisor.

Surround yourself with experience. Work with underwriters who specialize in the class. Partner with an experienced producer, wholesaler, program administrator, or agency. Joint placements or referral arrangements can protect the client while you learn. Sharing revenue is better than assuming a responsibility you are not prepared to carry.

Continue learning after the account is written. Industries change, contracts evolve, policy forms are revised, and technology creates new liabilities. Expertise is a continuing discipline, and it remains necessary after the first placement. That discipline carries into final responsibility.

Be the Professional Your Clients Deserve

To become the insurance professional your client deserves requires a commitment to continuous professional development. Having an insurance license is just the beginning. Developing true competence takes years of study, experience, and disciplined learning. The good news is that the investment is well worth it.

Pursue professional designations. Study beyond the minimum continuing education requirements. Whether it is the CPCU or another respected designation, each represents an opportunity to deepen your technical knowledge and sharpen your professional judgment. Those programs expose you to concepts, coverages, legal principles, underwriting considerations, and risk management techniques that simply cannot be mastered through day-to-day production alone.

The best agents never stop being students. They read industry publications, attend educational conferences, seek out mentors, participate in professional associations, and continually ask questions. They understand that expertise is not measured by the number of years they have held a license, but by their commitment to lifelong learning and their ability to translate that knowledge into sound advice for their clients.

Competence is not an event—it is a career-long pursuit. The agents who make that investment not only better serve their clients, they also build stronger reputations, reduce professional liability exposures, and distinguish themselves as trusted advisors rather than simply insurance salespeople.

Final Thoughts

Our profession is built on trust. Clients rely on us to identify exposures they cannot identify themselves and recommend protection they may not know they need. That responsibility requires more than confidence, a market, and a completed application. It requires competence and explains why earlier choices matter.

As an expert witness, I often see the outcome after the loss. Looking backward, the warning signs are usually visible. The challenge is recognizing them before the policy is written. That comes from education, experience, careful inquiry, and the discipline to seek help—or simply pass. Those habits are what keep an agent in the right lane.

The best agents are not those who say “yes” to every opportunity. They know the difference between an opportunity and an exposure they are not prepared to handle. The professional test is not eagerness. It is judgment.

Stay in your lane until you have done the work necessary to change lanes safely. When you are ready to expand, do so with the competence that protects your client.

About the Author

Michael W. Gay, CPCU, AAI, AAI-M, AINS, AIS, ARM, ARM-P, CIC, CRIS, is an insurance consultant, educator, author, and expert witness with more than 45 years of experience in the property and casualty insurance industry. His career has included executive leadership with insurance carriers, managing general agencies, and retail agencies, as well as agency ownership. He is the co-author, with Patrick Wraight, of Risk-Proof Your Business: The Complete Guide to Smart Insurance Choices—Expert Insights for Navigating and Mitigating Business Risks (Wells Media Group, 2024). Michael provides expert witness services nationwide in matters involving insurance agent and broker professional standards, coverage issues, and insurance industry practices, serving both plaintiffs and defendants. He is the founder of Michael Gay Consulting, LLC.