Agency Management News

Burand’s State of P/C Insurance Industry, Part 1: Agencies Facing Paradigm Shift

Editor’s Note: This is the first of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s Research and Trends division here. The second article in the series …

High Agency Valuations ‘Not a Fad,’ MarshBerry Exec Tells Conference

Valuations of insurance agencies are as high as they have ever been and there does not appear to be any lessening of interest among suitors, according to an industry mergers-and-acquisitions (M&A) consultant. John Wepler, chairman and CEO of MarshBerrry, described …

Agency Organic Growth Fell in Q1: Reagan

Agencies and brokerage firms reported that their organic growth fell to 3.9 percent in the first quarter of 2017, the weakest growth rate since 2011. According to Reagan Consulting’s Organic Growth and Profitability (OGP) Survey, the drop had a lot …

Good and Bad of Private Equity Investment in Insurance Agencies

It takes a lot of capital for an insurance agency to grow, acquire, merge or partner with another agency, and increasingly, private equity firms are stepping up to the plate to supply that funding. Although the number of reported mergers …

Today’s Insurance Agency E&O Costs, Coverage and Claims

Independent agency owners spend their entire careers worrying about the risks and exposures of others. Managing the risks of their own agencies can take a backseat to helping their clients. While agents appreciate the importance of errors and omissions (E&O) …

Real World Best Practices For Agencies in Reviewing Insurance Certificates

How is it that a certificate of insurance — that seemingly simple, straightforward and most innocent of documents — can be so complex? The certificate of insurance acknowledges the writing and existence of an insurance policy. It should accurately reflect …

Why Specialist Brokers Need to Become Content Marketers: Commentary

If you’re only an occasional consumer of marketing advice, you might think it’s crucial to learn everything there is to know about analytics and Big Data to effectively promote yourself and your brokerage. Between reading about programmatic ads and marketing …

7 Actions for Closing Out 2015 As If It Were a New Year

Every year, we do it on the same day at the same time. The instant the calendar changes from the old year to the new one, we convince ourselves that this year will be different. We’re going to do everything …

The Competitive Advantage: Agency Prices

Agency prices are likely at all-time highs, albeit only a handful of very specific buyers are paying such high prices. They are setting the mark making acquisitions unaffordable for many regular agencies that do not have Wall Street money or …

Dressing Up for the Wedding: Agency Operations, Part 1

Business owners have a lot to consider when running a successful business. Unfortunately, many do not consider an exit strategy, especially in the early years of the business. Agency owners without an exit strategy will sometimes make decisions based on …