Search found 130 matches

by mhutch69
Tue Aug 16, 2016 12:46 pm
Forum: Opinions
Topic: Does Anyone have am automated solution for payment reminders
Replies: 10
Views: 19217

Re: Does Anyone have am automated solution for payment remin

We are primarily non-standard auto writers. While I am aware of the E & O exposure for contacting late or canceling clients, I hope I have a solution although untested at this point. We have a "Confirmation of Coverage" Agency Signature two page document that Reviews the exact coverage...
by mhutch69
Thu Feb 06, 2014 12:35 pm
Forum: Opinions
Topic: Question on estimating a business value
Replies: 12
Views: 15569

Re: Question on estimating a business value

I have neglected to review this post for several months.
Does anyone want to work for free?
That should be your question!
by mhutch69
Thu Dec 19, 2013 2:18 pm
Forum: Opinions
Topic: Affordable Care Act: A Brief Explanation
Replies: 5
Views: 10351

Re: Affordable Care Act: A Brief Explanation

Nothing in that initial statement will LOWER ANY COSTS???? Wakeup and realize the fraud that has been perpetrated upon the American public. Obama. Wait until he can not hide his past any longer once he does not hold that office. It will likely be determine he should never have held it for a number o...
by mhutch69
Thu Dec 19, 2013 2:14 pm
Forum: Opinions
Topic: Question on estimating a business value
Replies: 12
Views: 15569

Re: Question on estimating a business value

I have brokered many agency acquisitions and sales and always paid more than my costs. Hoping there is an Excel spreadsheet with 200 formulas to value a business is very unlikely. Not possible to consider human capital etc. Hire a broker and you will be better off. Negotiating directly with a buyer ...
by mhutch69
Thu Dec 19, 2013 2:11 pm
Forum: Opinions
Topic: Broker fees
Replies: 10
Views: 17364

Re: Broker fees

CA Ins Brokers / Access Avenue Insurance or whoever, Just trying to help but misspellings bother me. the WEATHER should be Whether. It is on your website. Just helping. We provide business, home, and auto insurance coverage. Get in touch with a licensed California insurance broker by calling 949.777...
by mhutch69
Tue Nov 05, 2013 8:15 am
Forum: Opinions
Topic: New Phone Line System Help
Replies: 5
Views: 15039

MegaPath - VOIP Option

I highly suggest you RUN AWAY from any VOIP proposal from Megapath. I just recently went through HELL with this terrible company and being "small" hurt me a lot. FROM day one, I had a 1-2 second VOICE DELAY on my phone calls. FIVE (5) months of "escalating" my issue upward and it...
by mhutch69
Mon Aug 06, 2012 2:07 pm
Forum: Opinions
Topic: Agent no legal duty to inform on cancellations?
Replies: 37
Views: 248237

Re: Agent no legal duty to inform on cancellations?

I added a disclaimer years ago stating the customer may get a phone call or email but may not also. The customer will always receive a notice of cancellation from the insurer each month. That notice is the only one that matters and pay accordingly. I have been contacting customers to make sure payme...
by mhutch69
Mon Jul 23, 2012 3:38 pm
Forum: Opinions
Topic: AMS360 for accounting?
Replies: 18
Views: 54374

Re: AMS360 for accounting?

Remember, in CA., commissions are not earned until they are EARNED. Therefore, if you are paid advanced commissions against premiums not yet earned, you can not transfer to operating and spend those funds.

If you do, an audit by the CA. DOI would find you out of trust.
by mhutch69
Wed Jul 18, 2012 4:41 pm
Forum: Opinions
Topic: Agent no legal duty to inform on cancellations?
Replies: 37
Views: 248237

Re: Agent no legal duty to inform on cancellations?

This being the case, I believe, on personal lines auto and homeowners, 80-90% of all commissions should be fully earned at inception except for a flat cancel. If that were the case, I promise I would not call delinquencies. Until then, I will call them and if I miss one, I will take my chances. That...
by mhutch69
Thu Apr 05, 2012 6:06 pm
Forum: Hard-to-Place Accounts
Topic: One stop shop MGA
Replies: 12
Views: 13455

Re: One stop shop MGA

In CA., I would suggest Arrowhead Wholesale.
by mhutch69
Thu Dec 01, 2011 7:02 am
Forum: Opinions
Topic: QuickBooks
Replies: 8
Views: 19313

Re: QuickBooks

I have used QB online for 12+ years for agency bill, direct bill, payroll, CC acceptance etc. The ease of use, accessible from anywhere via a computer, minimal cost of hardware to my agency and reporting by location/class etc. is very helpful. My accountant pushed me into it years ago as the data do...
by mhutch69
Fri Sep 09, 2011 12:37 pm
Forum: Opinions
Topic: Direct carriers muscling us out of the market?
Replies: 8
Views: 9119

Re: Direct carriers muscling us out of the market?

i agree with D's Insurance. If you do not find a niche whereby the direct big guys are not interested or not totally able to penetrate, you will not survive. I have partnered with the largest DUI Class School, the largest Ignition Interlock Company and formed THE DUI MALL. Granted, do I want to writ...
by mhutch69
Fri Sep 02, 2011 11:46 am
Forum: Opinions
Topic: Why Would an Agency Retain Trust Account Service?
Replies: 16
Views: 21070

Re: Why Would an Agency Retain Trust Account Service?

CA. historically required a separate Trust Account from all other Agency expenses. I assume that has not changed. If you audited agencies in CA., I would be more than 1 out of 3 is out of Trust. Trust means every dollar of UNearned Commissions remain in the Trust Account per Chris Packer, CA. DOI. B...
by mhutch69
Fri Aug 26, 2011 9:36 pm
Forum: Opinions
Topic: Insurance agencies for sale ?
Replies: 32
Views: 133994

Re: Insurance agencies for sale ?

I have used the Agency Equity web site to list and sell several agencies. All the information you need is on that site to prepare properly to purchase, start or sell an insurance agency. But, again, I would NOT purchase a franchise independent insurance agency. There are very few that make any finan...
by mhutch69
Fri Aug 26, 2011 8:18 pm
Forum: Opinions
Topic: Online Auto Insurance Quote Process
Replies: 7
Views: 7796

Re: Online Auto Insurance Quote Process

I recently, against my better judgment, obtained a quotation from several online direct company websites. Because one of them may not have written business in my State, it tossed me to an aggregate site, which I figured out too late. It sold my email address to EVERY possible spam email advertisemen...