Agency Operations

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…

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…

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…

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…