Agency Management

You have an insured who has declared bankruptcy. How does this affect any premiums the insured owes? How does it affect any return premiums due the insured? How does bankruptcy…

You’re a small agency with a lot of big business connections, but you don’t have the markets or the staff to sell and service these types of major commercial accounts.…

Almost a year ago, we ran an article called “13 Caveats in Using E&S Markets.” While there are issues that agents should be aware of when using E&S markets, in…

The insured is sued for damages arising out of an occurrence that took place many years ago. The insured is unable to find the policy in force at that time,…

New and renewal policies should be reviewed thoroughly for completeness and accuracy before delivery to the insured. However, at certain times of the year when there is a heavy backlog,…

A respected client of the Agency Consulting Group recently analyzed the impact of direct bill income on the working capital and asset base of their independent agency. They found it…

It is almost embarrassing to say, but most insurance agents reckon their success by the balance in their checkbook. They don’t pay attention to those superb Operating Statements (Profit &…

The time that your staff spends on collection is much more expensive than the returns. If you establish a procedure that suggests that payment will be made by the agency…

Do you have a good handle on your accounts receivable for agency-billed business? How do you measure up to industry standards or best practices ranges?

An agency would like to provide additional services to valued clients. One of the suggestions was to provide a drop box for customer payments for both agency and direct bill…