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.

The Continued Importance of Trust Monies, Correct Accounting, and Doing Business with Stable Insurance Companies

There was some recent news that the Florida Department of Insurance (DOI) is requiring all agencies to return to the state all of their unearned commissions if they did business with a particular carrier that the DOI had to take …

Insurance Company Surplus — A Tiny Primer

I find that almost all agents and a high proportion of insurance carrier employees possess inadequate knowledge of insurance carrier surplus. Also, many think the knowledge they possess is accurate, however, in my experience, it is not. Assessment of insurance …

Future Profit Models for Insurers and Their Agent/Broker Partners

I read an article written by a former carrier CEO who is now a consultant and private equity backer to insurance ventures. The main point of the article was that insurtech, or any paradigm shifting insurance entity, will not really …

Insurance Claims – The Problems and Some Solutions

Claims are where the rubber is supposed to meet the road in the insurance world. Claims are where an insured might discover whether their cheap policy was too cheap. Claims are where reputations are made. Claims are where a disdain …

Policy Checking: It Is the Right Thing to Do

I recently read an E&O claim in which the agency involved seemed to have completely blown it. The policy was surplus lines and did not provide the coverages the retail agent thought were promised by the excess and surplus lines …

Producer and Carrier Contracts: An Agent’s Lifeblood, But Will Your Contracts Save You?

The world is a different place today. In days gone by, agents focused on protecting their expiration rights from carriers and producers stealing their books of business. From many angles, those were the halcyon days. Carrier Contracts For a very …

Agency Accounting

It is a fact that most agency owners did not especially like accounting classes — if they even took accounting classes in college — or they probably would be accountants rather than insurance agency owners. Unfortunately, independent insurance agency accounting …

What Is An Insurance Agent’s Job?

A family member recently bought a house. His realtor was connected to an agency of which I am familiar. In my opinion, the agency should not possess an insurance license. Incompetent would be the nicest description I would offer. Uncaring …

Is Selling Insurance a Profession?

A “profession” is defined by Merriam-Webster’ Dictionary as: 1: the act of taking the vows of a religious community 2: an act of openly declaring or publicly claiming a belief, faith, or opinion : protestation 3: an avowed religious faith …

Top 3 Recommendations Ignored by Agency Management

Prior to starting my consulting business, I read a great book that provided many clever rules for consultants to follow. It took many years for me to fully appreciate some of those rules and I am still working on some. …