Search found 11 matches

by MBRCatz
Thu Sep 26, 2019 11:30 am
Forum: Opinions
Topic: ACV vs Rep Cost for leased property loss
Replies: 3
Views: 922

Re: ACV vs Rep Cost for leased property loss

Another thing that can be in play is the wording on the replacement cost provisions. It's not uncommon that replacement cost provision doesn't apply until after the damaged property is repaired or replaced. If it's not repaired or replaced, actual cash value may apply.
by MBRCatz
Wed Sep 11, 2019 5:35 pm
Forum: Hard-to-Place Accounts
Topic: E&O Insurance for Media Personality (TN)?
Replies: 1
Views: 1220

Re: E&O Insurance for Media Personality (TN)?

" I owned E&O insurance on my business and always assumed it would carry over for anything that I did online." This makes me cringe. E&O policies are usually extremely specific on exactly what type of activities are covered. The application is usually a "warranty" as to ALL of your activities. If yo...
by MBRCatz
Mon Jul 22, 2019 3:46 pm
Forum: Opinions
Topic: Questions on starting IA
Replies: 5
Views: 2249

Re: Questions on starting IA

Why, exactly, do you want to do this? I'm asking, because it sounds like you want to treat it as a side-line to the main business; you're not going to find a lot of carriers willing to do this. You're going to have to put forth a business plan on how you plan to grow your business, and a marketing s...
by MBRCatz
Tue May 28, 2019 10:30 am
Forum: Opinions
Topic: Compensation Ideas: Unique Situation; Inside Producer, Supplied Leads w/Benefits
Replies: 5
Views: 9803

Re: Compensation Ideas: Unique Situation; Inside Producer, Supplied Leads w/Benefits

@FMI - that sounds like salary plus commission, adjustable downwards only. Where's the incentive to exceed the production requirements?? I don't see a high performer or experienced producer going for that deal. I see a low performer jumping on for six months or so.
by MBRCatz
Wed May 01, 2019 11:00 am
Forum: Opinions
Topic: Property and Casualty Exam Tips
Replies: 5
Views: 4668

Re: Property and Casualty Exam Tips

Here's what I suggest. Start with a good night's sleep before the exam - for at least two nights. Work your practice tests, don't just "take" them. That means, analyze each question and the answer options, and decide for yourself not just why the right answer is right, but why, exactly, the wrong an...
by MBRCatz
Wed Oct 31, 2018 10:25 am
Forum: Opinions
Topic: Referral - consultant to start an insurance brokerage
Replies: 4
Views: 3337

Re: Referral - consultant to start an insurance brokerage

The direct answers to your questions are: If you're willing to pay enough, someone in your state will walk you through it. I'd guess $200 an hour would get the job done. First you get licensed in your home state. Then you get the "nonresident" license. Depending on your home state, it can be as easy...
by MBRCatz
Tue Aug 14, 2018 11:03 am
Forum: Opinions
Topic: Are the CPCU Course Material Changes Real?
Replies: 2
Views: 3539

Re: Are the CPCU Course Material Changes Real?

They don't change every quarter, they usually change every 3-5 years or so. Unfortunately for you, October 2018 is the change for 520. You can always call The Institutes before you purchase your materials, and they will tell you if changes are pending within the next six months or so. If you buy the...
by MBRCatz
Fri Nov 03, 2017 10:54 am
Forum: Hard-to-Place Accounts
Topic: BOP vs. Commercial Package Policy
Replies: 6
Views: 5904

Re: BOP vs. Commercial Package Policy

There's no shortcut. Since BOP policy forms can be all over the place, you're going to have to read the specific form and compare coverages - and exclusions. The other thing to consider is what extra endorsements might be required contractually. You'll have more flexibility from a commercial package...
by MBRCatz
Tue Aug 01, 2017 10:39 am
Forum: Opinions
Topic: Why Dental Insurance is Expensive?
Replies: 1
Views: 2979

Re: Why Dental Insurance is Expensive?

Because of adverse selection, dental insurance is set up with waiting periods and limits to turn it mostly into a "prepaid plan". Since the only people who ever buy individual dental insurance are the ones that want to use it, there's no true "sharing of cost" across a risk pool. Additionally, denta...
by MBRCatz
Tue Jun 06, 2017 10:43 am
Forum: Hard-to-Place Accounts
Topic: Assembling Framing, but not a Framer / Licensed Contractor
Replies: 2
Views: 6228

Re: Assembling Framing, but not a Framer / Licensed Contractor

What class code do you want to use instead? To me, Carpentry NOC or Commercial Building Construction - both 5403 - is the appropriate code. I can't think of one more appropriate. And honestly, I don't see any private carrier looking to write a monoline WC policy on a high hazard, low or minimum prem...
by MBRCatz
Wed May 03, 2017 11:21 am
Forum: Opinions
Topic: New lead model question - could cost per sale work?
Replies: 28
Views: 79246

Re: New lead model question - could cost per sale work?

Well, good luck with that. IMHO the fee for sale is too close to an illegal practice for me to want to risk participating in it. And if you're talking about personal lines leads - there's NO profit on those the first year; service is pretty intense; and internet based leads tend to have a significan...