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.

Insurance Agency Trust Accounting — More Important than Ever

My articles regarding insurance agency accounting seem to elicit some of the most positive feedback of any subject I discuss. Trust accounting is the bedrock, the most essential aspect of insurance agency accounting – bar none. Insurance agency/brokerage trust accounting …

What Is Insurance?

Based on the last 126 insurance commercials I’ve watched, I wouldn’t have a clue. I saw one insurance commercial the other night that did not even include the word “insurance” in the script other than the carrier’s name. Most people …

Working From Home

Based on my reading, most employers appear to prefer employees to be in the office. And yet, most white-collar employees seem to prefer working from home, at least for a material portion of the time. Quite a conundrum exists, and …

Do Regulators, Insureds and Agents Understand How Reciprocal Carriers and Some New MGAs Work?

I recently read an article regarding how the U.S. Senate wants to investigate how well reserved Florida Citizens is because of their expressed concern that if a large hurricane destroys enough property insured by Florida Citizens, will Florida Citizens have …

An Apprenticeship

Recently, I spent a week learning about an entirely different industry than insurance. It was a great education. Along the way, I also learned about their insurance situation. As is common, provably common, about insurance coverages for small and medium …

Carrier Operational Stability

For nearly 30 years, I’ve been writing and consulting with insurance agencies, brokers and networks on the benefits of choosing the most stable carriers — stable from an operational perspective, which enables agencies to achieve greater success, rather than stable …

Property Rates and Reality Checks

Property insurance carrier after property insurance carrier is exclaiming that they need 20% here and 15% there and 18% over there. Rates in many parts of the country are already bordering on unaffordable, however. Agents in the field are concerned …

Benchmarks and Value

Many of the benchmarks readers see in this industry have never been tested for validity. No one knows if the metrics matter. Metrics should not be used if their value is untested. I see many insurance companies and insurance agencies …

Facts Are Friends

Recently, a carrier’s representatives walked into one of my client’s offices. This carrier announced they needed a 25% rate increase because of the carriers’ poor loss ratios. My top clients are well informed about their carriers’ profitability thanks to my …

E&O Claim Frequency Is Increasing

Through my recent discussions with clients and carriers, it is clear to me that agencies are incurring substantially more errors and omissions (E&O) claims. A significant difference exists between the number of claims agency E&O carriers are seeing and the …