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California State Fund Declares 10% 2020 Mid-Year Dividend

California’s State Compensation Insurance Fund will distribute a roughly $75 million dividend to its qualifying policyholders with policies that took effect between Jan. 1 and Aug. 26. The dividend equals roughly 10% of the estimated annual premium reported during that …

Electric Storage Explosion Highlights Danger of a Growing Technology

An investigation into the cause of an explosion at an Arizona energy storage facility that injured four firefighters confirms what engineers had feared: Packing lithium-ion batteries tightly together can spark a chain reaction that can cause catastrophic damage and endanger …

Optimizing Producer Effectiveness: Using Stats Not Feelings

We were in the locker at half-time, down by two points. Kenny, our center, felt like he was playing a terrible game. He already had two fouls, and the guy he was guarding seemed like he was scoring at will. …

What Does the Future of the Agency System Look Like?

The demise of the independent agent has been predicted ad nauseam, however arguably the most hotly debated version came from a 2013 McKinsey report with a section entitled “The End of an Era for the Local Insurance Agent.” When Bryan …

Why Word of Mouth is Still a Key to Building Your Business

Think of the last time you received excellent service from someone who went above and beyond on your behalf. Did you tell someone else about it? If you did, you were participating in word-of-mouth marketing. Word-of-mouth marketing is not new. …

101 Sales, Marketing & Agency Management Ideas

1. Offset Negativity. What can you show your clients that you are doing to help them during the pandemic? Everyone is tired of hearing how all their business income (BI) claims are denied. What are you doing to offset all …

Commercial Insurance Prices Up 19% in Q2: Marsh Index

Global average commercial insurance prices increased 19% in the second quarter of 2020, the eleventh straight quarter they have risen. Average price increases were driven principally by increases in property insurance rates and financial and professional lines — as was …

COVID-19 Gives Agencies Time to Evaluate Hiring Methods

The original title for this article was “Post-COVID Recruiting” but I don’t know what “post” means anymore. It seems we’ve reached a reality that will extend farther than most of us predicted earlier this year. As we adjust to the …

Cruise Line’s Appeal Backfires: Appellate Court Overturns Limit on Medical Damages

A federal appellate court has affirmed a $1.2 million jury award to a woman who broke her arm after tripping over a bucket on a cruise ship. That may have been the least significant part of the ruling in Higgs …

How One Young Brokerage Founder Plans to Target a ‘Different’ High Net Worth Market

As a self-taught app developer, when Hayden Kopser sees a problem, he seeks to build a solution. So, when he observed during his time working at AIG that some brokerages weren’t adequately servicing high net worth accounts, he saw an …

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