Not sure exactly what your question is... "told by their lawyer that they should get a insurance policy in case his current employer believes he is violating his non-compete and takes legeal action" To me it seems management liability (D&O), but would probably not be covered if there i...

If your commission split remains the same stay as an employee. Do the math gregcw mentioned also adding in medical benefits.

Facebook sponsored ads can be targeted to a particular audience. If you want your ad to appear only to members who list their "current city" as XXXX then only your ad will show up on their page. I find this especially useful if you want to brand your agency to just residents of the town yo...

It varies by state. Usually the limit is a nominal amount $20-$50 which allows for things like coffee mugs, pens, calendars and such. Check with your insurance department.

I would do some research on how your rates compare to GEICO in your particular area. Have all employees, family & friends in the area get GEICO quotes and run them against your companies. At least you will know where you stand in general (for the time being) and not have a potential exodus to GE...

One item I can think of is BOPs normally require 100% insurance to value, and CPP normally is 80% coinsurance, besides maybe getting agreed value. BOP will have more bells and whistles though. I would write it on a BOP unless property values preclude from doing so. Most of our BOP markets are eligib...

I wouldn't know if there is a "legally correct" procedure. Most personal policies revert insurable interest at the time of the named insured's death to their legal representative automatically. I would subscribe to Phils as in "do nothing". At least that is the most consistent wa...

I found this a challenge also, whereas some carriers will write RC with lower than RC limits. I think you have to do some risk management. For example if you have 40 buildings spread over a large area, you may be able to underwrite still with discipline and arrive at an blanket agreed amount with yo...

Jack1978 you do not understand what it takes to run an agency. miinsguy is right, carrier appointments is key, as well as E&O and carrying costs of another person. Automation and backroom support is often taken for granted. I've been in business for over 20 years and rarely have been provided &q...

I think standard is 50-50 you pay for your own benefits. That being said, it depends on your's and the agency's needs. For example if you expect total account management, marketing, word processing, claims and a W2 employee with benefit contributions etc. you are probably at 25%. If you do your own ...

piffd - NJ Auto insurance takes into consideration all members in the household. If your father has a drivers license and if his driving record prevents him from having a car, it will affect your underwriting. If he is unlicensed or for whatever reason does not need a car, that's fine but any advers...

We are in NJ so pretty much any student with a car at college is not a problem since lower garaging rates should apply everywhere else. I think it is critical to get your underwriter to sign off on this and acknowledge the vehicle usage. If you live in say South Carolina and the car is in Boston and...

check state statutes. some states protect the consumer to change anytime they want with pro rata cancellation.

Brightway owns the business - that's the problem!

Your agency was merged into a much larger agency. A part of the larger agency some of your old partners decide to leave and buy their business out. You have accounts that you have cultivated for 20 years and NOT due to any marketing efforts of the new larger agency. The new agency makes a decision t...