Closing Quote

Rebating Laws Should Not Apply to Broker Fee Agreements

A negotiated retail broker agreement is a contract between a retail producer and an insuranace buyer whereby the parties agree to a total package of services for a fee that takes account of the broker’s commission compensation for procuring insurance …

Earthquakes, Floods Highlight Wide Insurance Protection Gap

Recent natural catastrophes in and around North America have shined new light on two natural perils not covered by traditional U.S. homeowners insurance policies: floods and earthquakes. Catastrophe modeling firms have estimated that the amount of economic losses associated with …

What Employees Really Want

In today’s increasingly competitive labor market, human capital is critical to business success. Organizations are only as strong as their employees. With this in mind, insurance organizations are focused on engaging and retaining top performers. These individuals are critical to …

Irreplaceable You

When you sell insurance policies like every other agency, how can you stand out from the competition? Be irreplaceable. It’s simpler than it sounds when you follow three rules. The first is counterintuitive; the second has nothing to do with …

WSIA: Past, Present and Future

The wholesale, specialty and surplus lines market is healthy and stable with a bright future. Proof of this can be found in recent quantitative analysis like A.M. Best’s 2017 Special Report on U.S. Surplus Lines, as well as observable evidence, …

Insurers Respond to Rising Claims Abuse

Whenever severe weather strikes and there is property damage, insurers are among the first responders to help throughout the recovery process. However, in too many cases, some shady contractors, public adjusters and lawyers seeking to prey on the misfortune of …

How to Succeed in a Soft Insurance Market

It’s no secret that the insurance marketplace right now is extremely soft. The amount of capacity in the industry continues to rise as new entrants are coming into the market or existing carriers are either opening up their underwriting guidelines …

Do Cyber Underwriters Need Property Underwriting Training?

A single cyber event can create multiple exposures with potential effects on one or more of a company’s insurance policies. Cyber underwriters grappling with liability from such events would do well to learn from property underwriters who have a wealth …

The Promise of Insurtech

Disruptive technology is poised to shake up our industry. Following tectonic plate shifts in publishing, finance, investing, telecommunications, recorded music, information technology, retail, and even ride hailing services, insurance has been added to the queue. Disruption can be unsettling. While …

4 Takeaways for Agencies to Do in 4 Months

Where does the time go? Four months into 2017, here are four industry observations and four action items every insurance agency principal can take before the next four months pass. The Industry 1. Merger and acquisition activity and agency prices …

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