Why Agencies Need to Pay More Attention to Insurer Insolvency

By Chris Burand | April 10, 2014

  • April 10, 2014 at 1:31 pm
    Libby says:
    Poorly-rated. Like or Dislike:
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    • April 10, 2014 at 2:12 pm
      Agent says:
      Well-loved. Like or Dislike:
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      So you have a problem with Burand giving good info to agents. Did you ever stop and think there are new agents coming into the industry that might not know to do the things we have been doing for years checking Best and financial ratings on companies before selling their coverage? I have actually sold accounts due to the ratings of companies my competitors are using, pointing out small size, no rating, poor capitalization and no state filing.

  • April 10, 2014 at 2:17 pm
    Doubting Thomas says:
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    I think it is OK to repeat the basic foundations of these aspects on insurance. Good job.

    • April 10, 2014 at 4:41 pm
      Agent says:
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      Doubting, I had a Broker send me a quote last year on a company that indicated it was “A” rated. It had been downgraded before the ink was dried on the quote to B+. It came to my attention and I requested the Broker to seek an “A” market and requote. Our rule is to never sell insurance on “B” markets or one that was downgraded. They obviously have issues and I don’t want to take a chance on them. I also have a provision in my E&O contract not to use “B” or worse markets so I don’t want trouble from them either.

  • April 10, 2014 at 2:51 pm
    Libby says:
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    • April 10, 2014 at 5:19 pm
      Agent says:
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      So in your informed opinion, the author should just withhold this good info because it is not brand spanking new. It is funny, I didn’t see anything wrong with what was published. IJ has a lot of informative articles whether it is new or a reminder to agents.

      • April 11, 2014 at 8:52 am
        Libby says:
        Hot debate. What do you think?
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        IJ re-publishes old articles all the time, but they keep the original post date on them. Quit trying to argue with me all the time over everything. You’re really petty.

        • April 11, 2014 at 9:51 am
          Agent says:
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          Hidden due to low comment rating. Click here to see.

          • April 14, 2014 at 1:50 pm
            Questionning says:
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            “I give you permission”….are you Libby’s father?

          • April 14, 2014 at 2:26 pm
            Libby says:
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            He thinks he is, but he’s nowhere near the man my father was.



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