Virtual University

When a commercial lines client requests an agency to run an MVR on a new employee in conjunction with adding him/her as a driver to the BAP, the agency may…

With more stringent underwriting that has resulted from a proliferation of mold and water damage claims, agents and others are facing increased demands for background reports when real estate is…

Insureds, especially commercial clients who hire drivers, often ask their agent to furnish them with copies of MVRs on current or prospective employees. Under the Fair Credit Reporting Act (FCRA),…

There are some excellent excess and surplus lines markets in this industry, many providing products and services superior to those in the standard market. However, there are inherent dangers in…

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.…

In the midst of the credit crisis and economic turmoil, some very important accounting standards are coming to the forefront.  Accounting is almost as boring as IT for most agency…

Just because an independent agency places more business with one company rather than another does not mean anything nefarious is occurring such as unethically steering business. Even if the insurance…

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…

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…