Virtual University

Debunking Agency Multiple Valuations

If you have a valuation done on your agency, demand to see the actual work effort and the assumptions made by the appraiser as a part of the published appraisal.…

Does the ISO BOP Cover Undescribed Structures?

The ISO Commercial Property form, CP 00 10, requires that buildings and structures be described in order for coverage to attach. However, ISO’s Business Owner’s Policy only requires that the…

The Homeowners Policy and Sewer Backup

Homes and the personal property within them are the frequent victims of sewer backup that originates on or off the residence premises. The question is, to what extent, if any,…

Exterior view of modern apartment building offering luxury rental units in Silicon Valley; Livermore, East San Francisco bay area, California

How to Create a Customer-Centric Culture

Creating a Customer-Centric Culture. That’s a lot of words that begin in C. Well, this article is about D’s, specifically the Six D’s of Creating a Customer-Centric Culture.

Keeping Auto Premiums Low by Failing to Disclose Teenage Drivers

As the commodity-pricing frenzy of auto insurance intensifies, you become aware of agents who are cutting premiums by deliberately failing to disclose teenage drivers and advising prospects or insureds that…

Closeup image new car with piggy bank, key on hood isolated outside corporate building. Dealership offering credit line finance services. Lease automobile purchase financing concept. Financial success

Squirrely Building Damage Claim

A squirrel entered a community center building that had just undergone a $2 million renovation. It either gnawed some wiring or otherwise came in contact with the electrical system, causing…

McKinsey, Commodities, and the Death of the Independent Agent

A recent McKinsey report concludes that personal lines insurance, by and large, has become a commodity. It also questions the viability and value of the agent. This article excerpts one…

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Customer Service May Rule But Rules in Customer Service Don’t

When it comes to customer service decisions, I can’t stand the word rules. You can throw the word policy in there too. A better word might be guidelines. Or, if…

Satisfaction concept. Woman hand point at five star rating on green background, copy space, panorama

Why Great Loss Ratios are not the Goal of All Insurance Companies

Many agency owners take great pride in generating low loss ratios year after year. These agencies are often small but very, very profitable. These agency owners are not happy with…

Wooden houses and an easel arrow down. The fall of the real estate market. concept of value or cost decrease. low liquidity and attractiveness. cheap rent. Reduced demand and market stagnation.

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