Lack of Documentation on L&H Sales
Some independent contractors sell L&H insurance and split commissions with a bank-owned agency. The agency does not get a copy of any of the documentation, from application to policy. Servicing…
Agency Operations
What You Can Do About Insurer Insolvency (Part 1 of 2)
Mission. Integrity. Ideal. Excalibur. Universal. Enterprise. Great Global. American Excel. Champion. Adjectives for the Virtual University? Nope…names of companies that used to insure millions of individuals, families and businesses. Perhaps…
Ethics in the Insurance Industry
March is Ethics Awareness Month in the insurance industry. This has become an annual event, sponsored by the Insurance Institute for Applied Ethics and the CPCU Society, and endorsed by…
Ethical Dilemma #3: The Case of All’s Fair in Love, War and Insurance
In March 2002, Ethics Awareness Month, we ran a contest with three ethical dilemmas, asking our newsletter readers to respond with their answers. Below is one of those questions, along…
What You Can Do About Insurer Insolvency (Part 2 of 2)
Mission. Integrity. Ideal. Excalibur. Universal. Enterprise. Great Global. American Excel. Champion. Adjectives for the Virtual University? Nope…names of companies that used to insure millions of individuals, families and businesses. Perhaps…
Certificates of Insurance: Will You “Endeavor To” Be Ethical?
The ACORD certificates of insurance indicate that the issuing insurer will “endeavor to” provide notice of cancellation to the certificate holder. Typically, nothing in the policy requires this and many…
What Would YOU Do?
An agent discovers that his insured, a childcare center, has been underpaying her premium for at least five years due to a clerical coding error. He knows for a fact…
Carrier Scorecards
We recently received this question: “Are you aware of any firm that provides insurance company scorecards…something an agent may use to compare companies that he/she may wish to do business…
Ethical Dilemma #1: The Case of Who’ll Be “Broker”
In March 2002, Ethics Awareness Month, we ran a contest with three ethical dilemmas, asking our newsletter readers to respond with their answers. Below is one of those questions, along with…
The Gramm-Leach-Bliley Act Privacy Provisions
Time is running down! Of critical importance to agencies, companies and other financial institutions are the privacy provisions of the Gramm-Leach-Bliley Act (GLBA). In this article, we’ll summarize some important…
