My articles regarding insurance agency accounting seem to elicit some of the most positive feedback of any subject I discuss. Trust accounting is the bedrock, the most essential aspect of insurance agency accounting – bar none. Insurance agency/brokerage trust accounting …
A pair of federal Tax Court decisions at the start of 2024 are painting a concerning picture that the IRS is abusing its authority and attempting to become a quasi-federal governing agency over the insurance industry. The IRS secured a …
What’s so great about a career in an insurance agency? Lots, actually. Like opportunity, flexibility, training, challenges, good pay, helping others, and job security. What’s more, it’s an opportunity available to those who have a college degree or who never …
Is the world being overtaken by robots? While the answer to that question is clearly “no” – or at least, “not yet” – it seems that the focus of nearly every industry and business media outlet is artificial intelligence. This …
Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year — an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included the total of …
In 2017, I developed a webinar called “Raiders of the Lost Coverage: Insurance Jones and the Temple of Exclusions.” It evolved from an earlier seminar I did with the late John Eubank, CPCU, ARM, called “Horrible Commercial Lines Policy Forms …
One of the most pressing challenges facing insurance professionals today is the escalating impact of extreme weather events in traditionally disaster-prone areas. Last year alone, the U.S. witnessed a staggering $92.9 billion in weather-related damages, making it a record-breaking year …
A landlord decides to lease a space in a retail strip center to a sports bar. The landlord’s commercial real estate representative sends the lease to the new prospective tenant to sign – it is a standard industry lease that …
Most insurers plan to increase architects and engineers (A&E) professional liability insurance rates for a third consecutive year, according to a new survey by Ames & Gough. The specialty insurance broker reported that the increases are driven by concerns regarding …
The excess and surplus (E&S)lines and specialty insurance market is booming and looks set to continue its upward trajectory. The question is whether the sector currently has the resources to take advantage of these business opportunities. The financial statistics are …
