7 unchanged sentences
A hard market is an insurance market characterized by a period of rising premium rates, which, absent other changes, can positively affect commissions earned by insurance agents.
−Removed: The Company represents approximately 150 Carriers, of which 58 provide national coverage.
+Added: The Company represents over 150 insurance carriers, of which 60 provide national coverage.
During 2023, two carriers represented more than 10% of total revenue at 16% and 12%.
−Removed: As of December 31, 2022, we had $94.4 million of borrowings outstanding under our Credit Agreement, which bears interest on a floating basis tied to the London Interbank Offered Rate (LIBOR) and therefore is subject to changes in the associated interest expense.
+Added: As of December 31, 2023, we had $77.5 million of borrowings outstanding under our Credit Agreement, which bears interest on a floating basis tied to SOFR and therefore is subject to changes in the associated interest expense.
The effect of an immediate hypothetical 10% change in interest rates would not have a material effect on our consolidated financial statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.