Agency Management

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…

Too many agents try to reap the benefits of their agency value before they are ready, selling the goose even though it is capable of laying many more golden eggs.…

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…

Are there any E&O or regulatory issues related to delivering policies on a thumb drive rather than the paper files? SwissRe VP and Sr. Underwriter Richard Lund addresses these issues.

Every state and the District of Columbia grants insurance carriers an “underwriting period.” Insurance carriers are granted broad authority to cancel a newly-written policy during this statutorily-limited period.

Insurance agents have a deep desire to help their clients any way they can; but sometime, agents undertake to help in ways and areas where they are not qualified (or…

Following a communal catastrophe, such as a hurricane, victims go through several phases of recovery. Agents must know to expect these phases and how to prepare for them. It’s the…

Every professional agent knows to never answer the question, “How much liability coverage do I need?” But even if you don’t overtly answer the question, you may be leading or…

The greatest benefit you have as an independent agent is that you are the “local” professionals – you know both insurance and the area. When you communicate with your customers…

Employees are your greatest expense, but they are also your most valuable asset. The loss of great or even just a “good” employee has a tremendous effect on the agency.…