| |  | | Special Feature * Advantages of Big 'I' Membership * Agency Management * Back to Basics * Commercial Lines * Personal Lines * Insurance Laws & Statutes/Coverage Resources
**Please note: The next edition of Insurance Illustrated will be sent on Friday, September 15.** |
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| | In record numbers, today’s teachers are fleeing the classroom for less political, safer and better-paying jobs. Could a former teacher or a school librarian be your next hire? |
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| The Agents Council for Technology (ACT) provides practical tools and education to help independent agents leverage technology to enable their strategies. Through focused work groups, webinars, and other social media content, volunteers from Big I member agencies and ACT Supporting Member carrier and technology providers, create information and resources in areas like understanding emerging technology trends, ways to enhance the customer experience with ease-of-doing-business processes, explanations of ever changing cyber security concerns, disaster planning guides and much more. All of ACT’s resources are available at no cost to Big I member agencies. Learn more and get involved at independentagent.com/ACT.
You can join ACT in-person on October 5th in Columbus, Ohio for their “Back to Basics” meeting. All are welcome. Click the graphic below for all the details and to register now! |
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| | Virtually every industry has a model for comparing results to other businesses in the same field. For the independent agency system, that model is the Big “I” Best Practices program. |
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| | The title alone, I’m positive, has already caused a handful of agents to hyperventilate. If the reader is an independent agent and is not reviewing, or at least not offering to review, each renewal in detail, is not being an advocate for their clients, and is not working with all their clients to assess their exposures, then the client does not need to pay an agent 12%, 13%, or 15% commission. The agency is not earning their keep. |
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| | Many people in the P&C industry, particularly agency CSR's and a number of producers have not yet had the pleasure of experiencing a hard market. It's been about 15 years since we last had a significant hardening of prices. A hard market presents a number of selling problems. On the other hand, it also presents opportunities. Below are 12 tips that might improve your sales results in the hard (or any) market. |
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| | An interesting post on LinkedIn by risk management consultant Jack Schwartz, managing director at Davis + Gilbert Risk Management, caught my attention. The issue, according to Schwartz is that insurers are increasing the number of warranties placed on property policies, whether these are location-specific policies or smaller scheduled locations. |
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| | Question: I have always understood Agreed Value to do away with the coinsurance clause. I have also understood it to stand alone, meaning no ACV or RC noted on the Dec. page for the particular item showing agreed value. Am I correct or mistaken? If I am correct in both instances, is it correct for the company to show either ACV or RC as well as coinsurance on the Dec. page? |
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| | Construction risks are becoming harder to place and premiums continue to increase. With the construction market expected to increase by about 9% in 2022, now is an opportune time to increase your expertise and client base in construction and artisan and contractors risks. This article outlines the current state of the market, including some tips on collaborating with wholesalers to place those hard-to-place contractor risks. |
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| | While the reality of today’s underwriting is often, “Does this fit the box?” today’s hard market has caused many agents to scramble toward wholesalers and carriers with heartier appetites. However, submissions swamp today’s underwriters, and they may only scratch the surface of an application before responding, “No way!” How do you get your underwriting submission to the top of an underwriting stack? This article will explore how to present a solid underwriting submission for more complex risks that stand out from the pack. |
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| | Understanding the importance of coinsurance and describing it to your clients is important in both personal and commercial lines coverages. This article will explain what coinsurance is, why insurers rely on it and why, considering escalating property values, it is critical that your insureds understand and embrace this concept. |
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| | Were you affected by the Equifax breach? There is a 1 in 2 chance you were. Even if you weren’t, there are certain steps you can take to fight identity theft, including “freezing” your credit. Yes, there are some downsides to this, but saving your good credit may be worth the aggravation. |
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| | “Should I buy the damage waiver?” A question you probably receive from your clients on a regular basis. What do you tell them? Is it worth the money? |
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| | Download this useful chart that details liability coverage for trailer-related liability. |
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