What is the hardest part of your job? Where or on what do you spend most of your working time? I'm betting that some of your most common time vampires include:
- Arguing with certificate holders over allowable wording in certificates of insurance;
- Arguing with underwriters over pricing;
- Arguing with my client over pricing;
- Arguing with underwriters over acceptability and underwriting guidelines;
- Arguing with the claims adjuster over an improperly denied claim;
- Arguing with the premium auditor over the risk classification;
- Arguing with the landlord over the broken sink, toilet, or whatever;
- Trying to decide the proper workload for the service personnel;
- Trying to decide the correct commission structure; and
- Trying to decide where to eat lunch.
Wow! A couple days like that, and you definitely need a break.
If you take a close look at this list (but not too close as I don't want you to get depressed), you'll notice there are a few key activities missing. Notice them yet? I'll give you a clue: It's the most important activity for the continued agency success. Give up? There is nothing in that daily list about prospecting for, proposing to, and placing business.
Remember, nothing happens until someone sells something.
Another key activity missing from the list, but just as important to your agency and you: on-going education and training. Other than fighting with your landlord over a broken toilet and deciding where to eat lunch, there is nothing on that list that can't be overcome with greater knowledge about your chosen career. That's why the VU exists; to help you conquer your day (and make it less stressful). We offer information and training in all these areas, except the landlord and lunch issues.
So, what have we got for you this week? I'm glad you asked. In this issue we return to our series of state-by-state laws making available each state's laws regarding the "underwriting period." Additionally, we bring you an article highlighting ISO's newest commercial property filings – you will definitely want to take time to review the changes ISO filed with a September 1 effective date. Lastly, David Thompson, from the Florida Association of Insurance Agents, explains how being "too helpful" can get you sued.
Buddy went to Pets-R-Us to pick out his Halloween costume, but still had time to point us towards two process-focused and one underwriting guidelines-focused Ask An Expert posts. (I bet you want to know what costume Buddy picked out. Well, I can't tell you, he swore me to secrecy – with real swear words.)
On a side note, a couple days ago I ordered a chicken from UPS and an egg from FedEx. I'll let you know.
As always, we on the VU team are honored to be part of your professional lives; we don't take you or your time for granted. Thank you!
Executive Director, Big "I" Virtual University