When the current owners wish to perpetuate the agency without severe financial impact to the new owners, they sometimes attempt to gift, discount or bequeath ownership interest instead of charging…
Can an agency that fronts money for an insured cancel the policy when the insured refuses to pay? If you think the answer is “yes,” then you’ll definitely want to…
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…
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…
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…
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…
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…
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…
When FDR linked social security with retirement in the U.S. he adopted the retirement age used by Germany, 65 years old. Today our average life span is more than a…
Some brokers have been buying dozens of smaller agencies every year. Smaller agencies have been buying each other to supplement income and offset costs for the sake of growth and…
