Agency Management

What is Benchmarking? It is a management tool in which an independent agent can analyze the agency’s financial and operating results against other agencies within its own peer group. This…

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.…

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,…

An insured makes a payment by personal check on a policy that is scheduled to cancel for nonpayment. The check is received before the cancellation date and the company issues…

We’ve recently received several questions about trust accounts. How does an agency with an internal premium finance program know if it is in or out of trust? Can a trust…

One of your insurers has initiated a surcharge program for renewals of insureds who have had even a single claim in the past three years. Is this legal? Is it…

An insured’s account renewed in May, but the policies were not delivered until June. The agent believed that late delivery made these policies June items, payable to the insurer by…

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…