Articles by Chris Burand

Burand is the founder and owner of Burand & Associates LLC based in Pueblo, Colo. Phone: 719-485-3868. E-mail: chris@burand-associates.com.

Finding Alternatives

In recent months, the Wall Street Journal has published long articles regarding how expensive—to the point of not being affordable—homeowners and auto insurance have become. Insurance companies should not be so confident that raising rates significantly is a one-sided positive …

I Don’t Need No Stinkin’ Insurance Agent

This is obviously a warped paraphrase of the famous line from “The Treasure of the Sierra Madre,” “Badges! I don’t need no stinkin’ badges!” Warped is the insurance world we live in, and here is what the future holds for …

Reviewing Historic Predictions

Back around 2013 (the copy I have is not dated, so I might be off a year), McKinsey & Company published a study that caused some angst within the industry. The study, “Agents of the Future: The Evolution of Property …

Reading the Fine Print to Avoid E&O Exposure

Just because a carrier’s form shows the policyholder has XYZ Coverage does not necessarily mean they have XYZ Coverage in the real world. And yet, I find that few agents understand or know this. And even when they read the …

Might the Realtor Ruling Affect Insurance Distribution?

The fairly recent ruling on how realtors are paid seems likely to dramatically alter real estate sales. I’m not in that business so I don’t know all the ins and outs, both the obvious and the not so obvious, unintentional …

Strategic Planning

I don’t expect most insurance agencies to possess formal, in-depth strategies. Many are too small and focused on the next sale or the next renewal. Even many medium sized agencies are focused on the next sale, and provided they make …

Sales Culture Versus Business Culture

Can an agency built by a true salesperson transform into a firm with a business culture? Not with a salesperson still at the helm. Here’s some pop psychology based on knowing a thousand executives who began as salespeople. A salesperson …

Agency E&O Lessons to Consider

I’m seeing more cases of carriers rescinding policies for application errors, fraud or outright lies (call it what you will) than I’ve ever seen, and these are situations when there is an errors and omission (E&O) claim against the agent. …

The Balance Sheet Is the Most Important Financial Statement

The balance sheet is preeminent in financial audits by its placement at the front of audit reports. The balance sheet is what insurance regulators and raters are supposed to first focus upon, because it is a measure of whether an …

The Relevance of Standard Carriers to Commercial Lines

Question: Are standard, admitted, insurance carriers relevant commercial markets? Arthur J. Gallagher stated in their 2020 10K that 50% of the total U.S. commercial property/casualty market is written through alternative markets. An Aon report several years ago placed that number …