Search found 16 matches

by Swymmer
Fri Oct 30, 2020 9:59 am
Forum: Opinions
Topic: Management System and Rater
Replies: 2
Views: 6291

Re: Management System and Rater

Hi Dignainsurance!
We have been extremely happy with our Hawksoft CMS. I'd look into that if you haven't already bought one.
by Swymmer
Fri Oct 30, 2020 9:47 am
Forum: Opinions
Topic: Workers comp ghost policy
Replies: 12
Views: 62144

Re: Workers comp ghost policy

Continuing on with the conversation... a "ghost policy" is really a normal work comp policy with no reportable payroll at the time it is issued. These accounts are audited regularly to see if there are any changes to the payroll that need to be addressed. Many of them are "test audited" during the p...
by Swymmer
Fri Oct 30, 2020 9:22 am
Forum: Opinions
Topic: Questions on starting IA
Replies: 7
Views: 24930

Re: Questions on starting IA

For all the reasons above, starting a new IA is a tough way to go. If there is some other compelling reason to have a P/C agency then I would consider buying one. You'll need to pay a premium so you also get the staff and agency rainmaker... the person that will have the knowledge and skills to cros...
by Swymmer
Fri Sep 18, 2020 4:50 pm
Forum: Opinions
Topic: Workers comp ghost policy
Replies: 12
Views: 62144

Re: Workers comp ghost policy

I know this is late coming into the discussion... My agency routinely issues a ghost policy on self-employed logging clients like one-man timber fallers. They do not want to pay 25% to 50% of their income to WC just so they can put their boots on and go to work each morning. that said, we then offer...
by Swymmer
Fri Sep 18, 2020 4:18 pm
Forum: Hard-to-Place Accounts
Topic: Habitat for Humanity
Replies: 2
Views: 13320

Habitat for Humanity

Hi all. I have an opportunity to quote the local chapter of Habitat for Humanity. This is a multi-faceted risk that includes a retail thrift store, accepting donated building supplies and houseware goods as well as serving as the general contractor for the construction of new homes for their clients...
by Swymmer
Tue Apr 09, 2019 3:38 pm
Forum: Opinions
Topic: Commission For P and C
Replies: 4
Views: 24215

Re: Commission For P and C

It is a bit tough to really say on this one. You are new. If you were an experienced commercial producer working for my agency I pay 50% of the earned commission for new business with 30% renewals. And a salary. My personal lines producers get 50% first year and no renewals, but a stronger salary as...
by Swymmer
Tue Oct 16, 2018 11:29 am
Forum: Opinions
Topic: College senior interested in insurance career
Replies: 5
Views: 15602

Re: College senior interested in insurance career

Hey, college SR! Congrats, and smooth sailing! Here's the first thing... Many carriers have easy to obtain paid and unpaid intern programs. I would suggest you consider that route, at first. Maybe for only 6 months. I got into this business as a life insurance agent right out of college, too. 1979. ...
by Swymmer
Tue Oct 16, 2018 11:10 am
Forum: Opinions
Topic: What to expect from a new producer
Replies: 4
Views: 17905

Re: What to expect from a new producer

Sorry this is a bit later than normal... I've been away from the forum a while. When I started in this business it was with Met Life. They sent me to a two week intensive training program, followed by encouraging me to enroll in formal LUTC (industry) courses. Formal training made all the difference...
by Swymmer
Tue Oct 16, 2018 11:01 am
Forum: Hard-to-Place Accounts
Topic: Hunting guide service
Replies: 2
Views: 22177

Hunting guide service

Hi. I have a new prospect in North Idaho that is a professional outdoor hunting / fishing guide. He works year-around and earns a nice income. Does anyone have markets for this type of risk? CGL & Equipment is needed for this particular one. Thanks.
by Swymmer
Fri Jul 28, 2017 9:49 am
Forum: Opinions
Topic: Selling life insurance with no experience
Replies: 15
Views: 75529

Re: Selling life insurance with no experience

Would be interesting to see where dev1nsan is today... How has the addition of Life products affected your career?
by Swymmer
Tue May 07, 2013 5:14 pm
Forum: Opinions
Topic: Fire fighting crew
Replies: 0
Views: 5035

Fire fighting crew

Hi everybody. I posted this on the Hard-to-find site as well... I have a prospective client that has two fire trucks and contracts to do fire fighting (wildfires). The business and most all the work are in central Washington state. Does anyone know of a company that can do the GL and property for th...
by Swymmer
Tue May 07, 2013 5:04 pm
Forum: Hard-to-Place Accounts
Topic: firefighting crew
Replies: 1
Views: 5418

firefighting crew

I have a new client (prospect) that owns two wildfire fire trucks, each with a trained crew of five firefighters. They contract out for fire supression services, primarily in Eastern and Central Washington State. Does anyone know of a company, perhaps with a niche program that will insure the liabil...
by Swymmer
Mon Nov 12, 2012 10:47 am
Forum: Hard-to-Place Accounts
Topic: Premium Financing for life and D.I.
Replies: 1
Views: 5549

Re: Premium Financing for life and D.I.

I'm getting some looks, but no nibbles! I market in the Northwest.. CA, OR, WA, ID, MT & have some clients in AK that must come to me. Annual Premiums range from a low of $4000 to a high of $16000 with $6000 being the average. Lloyd's of London underwrites it, CRUMP is the SLBroker (Currently), and ...
by Swymmer
Mon Nov 05, 2012 4:00 pm
Forum: Opinions
Topic: Creating a business plan
Replies: 2
Views: 5652

Re: Creating a business plan

A business plan is just a starting point. You mention wanting to have "measured growth". I was at the same point, almost exactly as you, 5 years ago... I suggest you contact Michael Jans at Insurance Profit Systems / Agency Revolution in Bend, Oregon for a candid discussion if their style of coachin...
by Swymmer
Wed Oct 31, 2012 4:50 pm
Forum: Opinions
Topic: Buying IA - Current Multiplier?
Replies: 6
Views: 7510

Re: Buying IA - Current Multiplier?

There are so many variables! Agency Equity is right... hire a skilled professional that knows how to value the independent agency. Whenever I hear of an agency for sale I'll do my own EBITA computation... I basically look at the income, take away the actual hard costs including a salary for the agen...