Search found 61 matches
- Mon Jun 01, 2015 11:33 am
- Forum: Hard-to-Place Accounts
- Topic: CA Insurance Agent E&O
- Replies: 5
- Views: 28799
Re: CA Insurance Agent E&O
Terminology is key. Risk Purchasing Groups often have a "bag" of limits where you better file your claims early because when the "bag" of limits runs out there are no more funds to play claims. OTOH Risk Retention Groups issue policies with specified limits and, subject to the fi...
- Tue May 26, 2015 10:46 am
- Forum: Hard-to-Place Accounts
- Topic: CA Insurance Agent E&O
- Replies: 5
- Views: 28799
Re: CA Insurance Agent E&O
Bite the bullet and pay the fee. That's one helluva E&O premium for what you have. Everything goes up in time and you can yell all you want about "principle" but that won't solve anything.
- Tue Apr 14, 2015 10:22 am
- Forum: Opinions
- Topic: CPCU - Advice
- Replies: 29
- Views: 177139
Re: CPCU - Advice
I've been in this business for 46 years and over time this is how its shaken out: CPCU: for underwriters CIC + sundry others: for brokers MBA: for everyone Find a reputable online MBA program [e.g. Pepperdine] and go for it. U of Phoenix and others of the for profit online degree ilk won't cut it. Y...
- Mon Feb 23, 2015 1:39 pm
- Forum: Opinions
- Topic: Is Google going to run the independent agent out of business
- Replies: 20
- Views: 147706
Re: Is Google going to run the independent agent out of busi
Insureds will use the web for shopping companies and prices BUT when it comes down to purchasing they will usually defer to their local agents because they want a live person close by to call when they have claims. Unlike shopping for consumer goods, there is a bit of sophistication that live breath...
- Wed Feb 11, 2015 11:26 am
- Forum: Hard-to-Place Accounts
- Topic: Commercial Building Coverage PUD (HOA type) CA
- Replies: 1
- Views: 9889
Re: Commercial Building Coverage PUD (HOA type) CA
If this were a 4 unit condo with an HOA the unit owners own only the insides of their units and the HOA owns the outside walls and common areas. You would have no dearth of markets willing to write GL and contents coverage for individual unit owners and the HOA would have no problem covering their a...
- Fri Dec 05, 2014 11:31 am
- Forum: Opinions
- Topic: ACA/ObamaCare Open Enrollment 2015
- Replies: 12
- Views: 28853
Re: ACA/ObamaCare Open Enrollment 2015
Good luck getting paid your commissions. Sounds like that is not happening for many producers. More turkey, less gravy.
- Mon Nov 10, 2014 12:00 pm
- Forum: Opinions
- Topic: Minimum and Deposit Premium GL
- Replies: 4
- Views: 13883
Re: Minimum and Deposit Premium GL
A 100% policy MP for auditable policies has been the rule among SL carriers and the Sp Risk divisions of admitted carriers for at least 25 years just like the 25% MEP at inception. if your insured's sales or receipts stand a good chance of falling under those on the app you should tell your wholesal...
- Tue Nov 04, 2014 12:36 pm
- Forum: Opinions
- Topic: What's hot' right now.
- Replies: 7
- Views: 13336
Re: What's hot' right now.
.......and very accurate.
- Wed Oct 29, 2014 11:20 am
- Forum: Opinions
- Topic: The next five years
- Replies: 15
- Views: 27737
Re: The next five years
Whatever the CA Ins regs state, they are not being enforced. Conveying a policy to an insured in pdf format is kosher because the insured can print or request hard copy. Also, when the CA DOI audits agencies they do not have a problem with digital records as they can also print hard copy if needed. ...
- Wed Oct 22, 2014 10:28 am
- Forum: Opinions
- Topic: The next five years
- Replies: 15
- Views: 27737
Re: The next five years
I don't know what universe you are living in but our clients do not want paper policies and none of our carriers issue paper policies. We send the policies to our clients by email and save a copy in our cloud should they need a coy later. Come to think of it, what agencies or insurers still use pape...
- Tue Oct 21, 2014 11:06 am
- Forum: Opinions
- Topic: What's hot' right now.
- Replies: 7
- Views: 13336
Re: What's hot' right now.
Come on guy's...lol What are your marketing rep's bugging you to write... I know they are in your office.. Are you serious? Insurers still have marketing reps? I thought that those positions went out about 25 years ago and that their "duties" were folded into those of underwriters or dire...
- Wed Jul 23, 2014 1:18 pm
- Forum: Opinions
- Topic: Want to buy independent insurance agency
- Replies: 4
- Views: 16010
Re: Want to buy independent insurance agency
So it sounds like you won't have the volume to attract the more recognizeable admitted retail companies [Travelers, Chubb, etc.] .If that is true then most of your business will be placed via wholesalers which will reduce your margin. Can you compete and be successful on that basis. What specialties...
- Wed Jul 23, 2014 1:15 pm
- Forum: Opinions
- Topic: Wholesale Insurance
- Replies: 5
- Views: 8419
Re: Wholesale Insurance
I've started a wholesale brokerage and I know what it takes. What state are you in? How long have you been in wholesale? Do you have a niche / specialty? Will all or most of your current clients follow you? Since the big companies don't usually appoint new small shops, do you have friends at other w...
- Mon Jun 30, 2014 12:47 pm
- Forum: Opinions
- Topic: Enterprise Ins Co
- Replies: 6
- Views: 8189
Re: Enterprise Ins Co
Good idea, but this being CA things just keep getting weirder. As we all realize even the most professional contractors turn over certficates to drones with a punch list and no understanding of carrier ratings or endorsements. Most of us now accept that as totally hopeless so its gratifying and not ...
- Wed Jun 11, 2014 12:00 pm
- Forum: Opinions
- Topic: Enterprise Ins Co
- Replies: 6
- Views: 8189
Re: Enterprise Ins Co
Weel, gosh golly gee. I''m in CA and despite being not legal its being done. Illegal and not on the LESLI list does not stop con men and this company is being pushed by their equals.