A broker built a major insurance operation serving Amazon's delivery network, but carriers suddenly exited key states like Florida, Texas, and California, leaving hundreds of customers facing shutdown within three months. The story shows how quickly a business can collapse when carriers walk away.
One of the largest broker shops that we ended up building out, competing with the likes of like Aon, Marsh, all these really big, well-known insurance firms. And we were essentially Amazon's backend risk management team in a nutshell. So we were insuring their delivery logistics network. Everything was going great, but then from one day to the next, the carriers we were working with said, hey guys, tested this market out for 3 years. It was a lot of fun, but we don't want to continue insuring this, this market. So we're gonna back out. So very similarly to what was going on right in the Florida, Texas, and California markets where a lot traditional carrier said, hey, we can still be in this space if we wanted to keep charging people more, but it just doesn't make sense for us. So they backed out and I was there sitting with, right, hundreds of customers that I had to pretty much tell, hey, I don't know if I'm going to be able to insure you in 3 months. You may have to shut your business down, fire all your employees. And it was great while it lasted.
