Agency Management

Agency owners often ask, “How long should I keep expired insurance policies?” When we’re talking about liability policies, the new answer may be “forever.”

What is the agency’s responsibility if the insurance carrier alters coverage at renewal? Most state statutes require the insurance carrier to notify the insured – not the agent. But should…

CLUE Reports are a common underwriting tool. According to research, more than 80 percent of consumers are unaware these even exist. Further, those who do know they exist likely don’t…

When there are changes in policy conditions related to coverage, price or other terms and conditions, most states require the insurance carrier to notify the insured a specified amount of…

Do you know why that Privacy Notice is on your website? Or are you one of many that haven’t taken the time to even put one there? Would you be…

An agency has both a premium trust account and an operating account at a local bank. The agency owner has been told by some other agents that separate accounts are…

Over the years I’ve seen many agents spend thousands of dollars on a Procedures Manual,… one you’ve bought…one you’ve paid a consultant to come in and do…or one you’ve struggled…

Unless there is a legal requirement, is there a reason to issue a written binder on an account? We posed this question to the VU faculty and got a mixed…

For years your agency has not followed up on insurer cancellations for nonpayment. Now you feel that you are staffed to be able to do this. From an E&O (or…

Many agency owners take great pride in generating low loss ratios year after year. These agencies are often small but very, very profitable. These agency owners are not happy with…