Idea Exchange

Covering Cannabis in California

Most of the action on insuring legal cannabis in California is in the surplus lines marketplace. The legalization of cannabis in California created many opportunities for insurers to get in on the ground floor in covering this new product. At …

Should You Hire an Appointment Setter?

One of my mentors, Dan Sullivan, says: “All progress starts with telling the truth.” Is it true that you don’t spend enough time prospecting to have a pipeline of real opportunities that you can win? And that by winning them, …

Take Corporate Citizenship to the Next Level with Coalitions

Interest in corporate social responsibility (CSR) has grown substantially in recent years. What used to be just a recommended business practice is now a mandate for organizations across all industries. Employers clearly see the business benefits of CSR, working to …

The 12 Days of Christmas – Good Personnel Management

On the first day of Christmas, the agency owner said to staff: “Our growth was phenomenal this year, thanks to you.” On the second day of Christmas, the agency owner said to staff: “Everyone will get a percentage bonus based …

How States Differ in Responding to Coverages and Their Application

I have done a tremendous amount of errors and omissions (E&O) work over the years, including serving as approved and accredited auditor for two major E&O carriers, a certified E&O instructor, an author of an E&O book and more. Through …

The Allure and Challenges of Online Insurance Distribution

Insurance presents some big barriers to entry especially for newcomers who often lack the experience and knowledge in areas such as regulation, risk and distribution. Meanwhile, the industry’s legislative and regulatory environments are becoming more complex. Many will point to …

The Insurance Recruiter: Q&A

Q:I’m keenly aware of the talent shortage in our area. As vice president of benefit operations, our agency not only wants to hire more account managers but is battling against the constant solicitation of those employees by our competitors. An …

Imagery and Artificial Intelligence in Wildfire Risk

Fires across North America in 2018 have continued the pattern of extreme destruction established by significant insured loss events in both Northern and Southern California last year and the 2016 disasters in Alberta and Tennessee. These events have driven the …

Preparing to Sell the Agency

There seems to be an insatiable frenzy of agency acquisitions for many years now, with private equity firms and publicly traded brokers taking the lion’s share. These well-funded buyers are paying a premium well over what a local peer independent …

The Rise of Risktech: How Startups Are Saving Lives and Property in Construction

Construction has a major problem: every year, construction sites suffer $11 billion in losses due to damage from fire and water, worker accidents, and theft. In addition, a fifth of all worker deaths in the U.S. – nearly 1,000 in …

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