AOR/BOR Procedures. If the current agent is so good, why is the insured moving their policy? AOR/BOR selling strategies have increased in popularity exponentially over the last decade. Some sales consultants and producers also like the strategy because they think …
While the industry seemed to see a spike in mergers and acquisitions activity in 2012 due to some tax implications, many are projecting that 2013 will see some healthy buying and selling, too. While there are many issues to address …
Record Retention. It’s not as simple as everyone thinks. Significant and dangerous myths exist relative to this increasingly important topic. The first myth is that “records” means all records, not just paper records. Second, the solution is not to keep …
Felony Background Checks. An important step in hiring people. If an employee has a felony conviction and the agency has not obtained the proper waiver from their state’s insurance department, the agency may be violating the Violent Crimes Act. Some …
Flood Insurance. Who Ever Said Mortgage Companies Know Everything About Flood Insurance? In agency after agency I visit, flood insurance is usually only offered to people if their mortgage company requires it. De facto, this means the agency is accepting …
Job Descriptions. A simple solution to minimizing E&O exposures. One of the most significant E&O exposures is literally a “he said, she said” issue. Producers think a CSR will do something and CSRs think the producer is doing it. The …
Agency Catastrophe Plans. How to keep a catastrophe from becoming an even bigger catastrophe. I don’t know who said it, but they correctly concluded that the best E&O audit is a natural catastrophe because so many clients have claims and …
Bond Specifications & Company Ratings. Do you check? When commercial clients need a bond, they almost always have a contract that requires the bond meet certain specifications. Among those specifications is the bond be issued by an insurance company with …
As Americans do their best to plan for retirement, all it takes is a visit to a financial planner to realize the importance and value of long-term care insurance. The goal of purchasing it is two-fold: retaining as much of …
Is Your Agency Still Accepting Cash Payments? Relatively few agencies today, at least relative to ten years ago, are accepting cash. Technology will reduce cash payments even more. The means to never accept another cash payment already exist, but this …
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